SarvaGram, a Pune-based rural-focused credit and fintech startup, has raised ₹565 crore (approx. $67 million) in a Series D funding round led by Peak XV Partners. The round also saw participation from existing investors—Elevation Capital, Elevar Equity, Temasek, and TVS Capital.
This latest round has doubled the company’s valuation to approximately ₹1,785 crore ($212 million) from ₹790 crore ($94 million) in its previous Series C round, as per regulatory filings reviewed by Entrackr.
Funding Breakdown and Investor Stakes
While SarvaGram did not disclose full details publicly, filings with the Registrar of Companies (RoC) revealed the round structure:
| Investor | Investment Amount (₹ Cr) | USD Equivalent ($ Mn) |
|---|---|---|
| Peak XV Partners | ₹340 Cr | $40.3 Mn |
| Elevation Capital | ₹80.76 Cr | $9.58 Mn |
| Elevar Equity | ₹68 Cr | $8 Mn |
| Temasek | ₹45.48 Cr | $5.4 Mn |
| TVS Capital | ₹30.78 Cr | $3.6 Mn |
| Total | ₹565 Cr | $67 Mn |
This round included the allotment of 21,857 Series D CCPS and 20 equity shares at ₹2,51,431.22 per share.
According to TheKredible, the current shareholding structure stands as:
- Elevar Equity – 23.78%
- Peak XV Partners – 19.05%
- Elevation Capital – 18.40%
- Utpal Isser (Co-founder & CEO) – 11.00%
- Sameer Mishra (Co-founder) – 7.05%
Empowering Rural India through Credit and Infrastructure
Founded in 2019 by Utpal Isser and Sameer Mishra, SarvaGram provides a full suite of credit products tailored to rural households. These include:
- Business loans
- Farm loans
- Personal and gold loans
- Affordable home loans
In addition to credit, SarvaGram operates SarvaMitra, a rural franchise network offering:
- Farm mechanization tools (cultivators, rotavators, harvesters)
- Insurance products
- Tech-driven financial services
“With over 1.5 lakh households and 630+ SarvaMitra partners across 38,000+ villages, SarvaGram is driving financial inclusion where it’s needed most,” the company stated on its website.
Strong Growth Metrics
SarvaGram reported a 2.3x YoY jump in operating revenue to ₹170 crore for FY 2023–24. It also:
- Reduced net loss by 30% to ₹19.75 crore
- Expanded to 170+ physical retail locations
- Served 1.5 lakh+ rural customers
Market Landscape & Competition
SarvaGram competes with:
- Jai Kisan, which raised $50 million Series B in July 2022
- Arya.ag, which secured $30 million in debt in January 2024
With total funding now exceeding $116 million, SarvaGram is positioning itself as a formidable force in rural and agri-fintech—bridging the credit access gap in Bharat’s heartland.