Mumbai, April 27. Homegrown rural finance and distribution startup SarvaGram announced the crossing of INR 172 Crore mark in assets under management (AUM), clocking in incredible scale in record time since inception in June 2019, said a company press release. In addition to that, SarvaGram has also registered a significant increase in its annual recurring revenue (ARR), taking the number to over 55 crore INR for FY’22.
The growth was enabled by a number of factors including the implementation of scorecards for improved credit assessment and for automation of the lending and distribution processes. Other factors include the introduction of a state-of-the-art SaaS platform to digitise SarvaGram’s loan collection program. Maintaining the current momentum, the company is projected to acquire an AUM of 500 cr INR in FY ‘23, and reach an AUM of 10,000 cr INR in the next five years while significantly bolstering its customer base to reach 15,00,000 households in the next 5 years.
In its years of operation, SarvaGram has strived to empower rural and semi-urban aspirations across a variety of sectors through its multitude of loan offerings and farm mechanisation facilities. With an expansive network base and a prudent understanding of the need-gaps existing in the target market, SarvaGram leverages data analytics and on-ground knowledge to enable aspirations of its customer segments by providing a plethora of loan options and farm mechanisation services.
Commenting on this milestone, Utpal Isser, Co-founder, MD and CEO, SarvaGram, shared, “We at SarvaGram are committed to empowering rural India’s aspirations through a carefully devised data driven distribution platform. Our continued reliance on a household-centric credit led approach that leverages a high-tech high-touch distribution model has given us an edge in performing in the rural and semi-urban markets. This milestone is a huge testament to and validation for our unique digitisation frameworks customised to the nuances of the customer segment we serve.. From taking a year to reaching our first 1000 customers in 2019 to onboarding 1000+ customers in under one month, this has been an extremely gratifying journey and we are only just scratching the surface of the potential that is waiting to be
unlocked in the Indian rural diaspora.”
Headquartered in Mumbai, Maharashtra, SarvaGram currently operates out of 8 hubs, 50 branches across 4 states, and has 220 franchisees across Rajasthan, Karnataka, Maharashtra and Gujarat. SarvaGram plans to enhance their rural network by setting up close to 500 branches in the next few years.
