About Ashv Finance
Ashv Finance is a Financial Services company based in Mumbai (India) founded in 2010 by Vineet Chandra Rai. Business loans are provided to enterprises in India. Ashv Finance has raised $53 million across 12 funding rounds from investors including Triodos Bank, Michael & Susan Dell Foundation and Encourage Capital. Ashv Finance was last valued at $66.09 million in December 2023. Its chief executive, as recorded, is Vineet Chandra Rai. Its Indian entity Ashv Finance Limited reported revenue of ₹185 Cr. Ashv Finance offers products and services including Unsecured Business Loans, Secured Business Loans, GST Surrogate, Banking Surrogate, and Solar Rooftop Financing. Its focus areas include Consumer and SME Loans, SME Loans and Diversified. Its competitors include Manappuram Finance, L & T Finance Holdings and IIFL Finance; 1 of its 3 listed competitors has raised funding.
Company details
Ashv Finance was founded in 2010 and is headquartered in Mumbai, India. Operations are focused on the financial services sector, where business loans are extended to support various enterprises. Services include funding solutions tailored for business growth and operations. The company is led by key executives such as Vineet Chandra Rai as Founder CEO and Nikesh Kumar Sinha as CEO Managing Director. Geographic presence is centered in India.
- Headquarters Mumbai, India
- Founders Vineet Chandra Rai
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website ashvfinance.com
- Social LinkedIn X Facebook
- Legal Name Ashv Finance Limited
- Date of Incorporation 05 Feb, 1998
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹185 Cr
FY 2024 · -16% YoY
- EBITDA₹7.90 Cr
FY 2024 · 4% margin
- Total Equity Funding$53M (USD)
in 12 rounds
- Latest Funding Round$10.95M (USD), Series E
Dec 2023
- InvestorsTriodos Bank
& 18 more
Associated legal entities of Ashv Finance
Ashv Finance operates through Ashv Finance Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Ashv Finance Limited CIN U65910MH1998PLC333546 | Active | 05 Feb 1998 | Mumbai, Maharashtra | ₹185 Cr | 32 | 12 | View details |
Products & Services of Ashv Finance
Ashv Finance offers a comprehensive portfolio of products and services, including Unsecured Business Loans, Secured Business Loans, GST Surrogate, Banking Surrogate, and Solar Rooftop Financing.
Provides collateral-free loans for MSMEs to support business growth.
Offers secured financing options for small businesses in India.
Assists with GST-related financial support for businesses.
Facilitates alternative banking solutions for MSMEs.
Provides loans for solar energy installations to promote sustainability.
Funding Insights of Ashv Finance
Ashv Finance has successfully raised a total of $53M across 12 strategic funding rounds. The most recent funding activity was a Series E round of $10.95 million completed in December 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $53M
- Total Rounds 12
- Last Round Series E — $10.95M
- First Round $1.86M
(Feb 2013)
- Investors Count 19
Latest 10 of 12 funding rounds of Ashv Finance with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2023 | $10.95M | Series E | $66.09M | Encourage Capital | – |
| Mar 2023 | $10.64M | Series C | $69.96M | Aavishkaar Capital, Aavishkaar Capital | |
| Mar 2020 | $6.65M | Series B | $••••• | Aavishkaar Capital, Aavishkaar Capital | |
| Feb 2019 | $7.05M | Series B | $••••• | Aavishkaar Capital, Aavishkaar Capital | – |
| Apr 2018 | $3.51M | Series B | $••••• | Aavishkaar Capital, Aavishkaar Capital | |
| Sep 2017 | $23,420 | Angel Round | $••••• | Akbar Khan | – |
| Jun 2016 | Debt – Conventional | – | – | ||
| May 2016 | $7.65M | Series B | $••••• | Developing World Markets, Triodos Investment Management | |
| Feb 2016 | $8M | Debt – Conventional | – | – | |
| Nov 2015 | $99,034 | Angel Round | $••••• | Rajan Juneja, Ruchir Shah |
| Date | Valuation | Stage |
|---|---|---|
| Dec 2023 | $66.09M | •••••••• |
| Mar 2023 | $69.96M | •••••••• |
| Mar 2020 | $••••• | •••••••• |
| Feb 2019 | $••••• | •••••••• |
| Apr 2018 | $••••• | •••••••• |
| Sep 2017 | $••••• | •••••••• |
| May 2016 | $••••• | •••••••• |
| Nov 2015 | $••••• | •••••••• |
Full valuation and stage history of Ashv Finance
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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Last known valuation $66.09M (Dec 2023). 19 investors in total: 10 institutional and 9 angel.
Investors in Ashv Finance
Ashv Finance has secured backing from 19 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Triodos Bank, Michael & Susan Dell Foundation and Encourage Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
VC firm funding companies in the US | encouragecapital.com | New York, United States | ||
Venture capital firm | aavishkaarcapital.in | Mumbai, India | ||
Impact investing through credit and equity strategies in developing regions, focusing on social and environmental benefits. | dwmarkets.com | |||
Diversified investment portfolios are managed for various clients. | triodos-im.com | Driebergen Rijsenburg, Netherlands | ||
Investments are made in digital society, education, and employability sectors. | omidyarnetwork.in | Mumbai, India | ||
Venture capital firm focused on multiple sectors | aavishkaar.in | Mumbai, India | ||
Ethical banking services are offered to sustainable initiatives. | 1980 | triodos.com | Zeist, Netherlands | |
Non-profit investments in social impact are managed by the firm. | calvertfoundation.org | Bethesda, United States | ||
| opic.gov | ||||
A foundation focused on transforming lives through education and health. | 1999 | dell.org | Austin, United States |
Investor details for Ashv Finance
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Board of directors of Ashv Finance Limited (Ashv Finance)
Ashv Finance Limited is the primary company behind Ashv Finance. The board of Ashv Finance Limited currently have 7 directors; the longest-serving is Vineet Chandra Rai, appointed in 2012. 38 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vineet Chandra Rai DIN 00606290 | Director | 27 Jul 2012 | 14 yrs 3 mo | Ashv Finance Limited |
| Anurag Agrawal DIN 02385780 | Director | 10 Dec 2012 | 13 yrs 10 mo | Ashv Finance Limited |
| Radha Krishna Mathur DIN 02114844 | Director | 06 Feb 2024 | 2 yrs 9 mo | Ashv Finance Limited |
| Aleem Remtula DIN 02872107 | Nominee Director | 02 May 2024 | 2 yrs 6 mo | Ashv Finance Limited |
| Rajat Mohan Nag DIN 07083831 | Director | 14 Aug 2024 | 2 yrs 2 mo | Ashv Finance Limited |
| Franciscus Bernardus Martinus Streppel DIN 02717387 | Nominee Director | 14 Aug 2024 | 2 yrs 2 mo | Ashv Finance Limited |
| Atreya Rayaprolu DIN 03544702 | Managing Director | 28 Jul 2025 | 1 yr 3 mo | Ashv Finance Limited |
People of Ashv Finance
17 people are tracked at Ashv Finance (11 in leadership, 6 in team).
| Name | Role | Group |
|---|---|---|
| Founder & CEO | Leadership | |
| CEO & Managing Director | Leadership | |
Swapna Nair | Head (svp) Operations And Customer Service | Leadership |
Nikesh Kumar | Managing Director | Leadership |
| COO | Aavishkaar Group | Leadership | |
Amol B. Warange | Director | Omidyar Network India | Leadership |
Sunil Mishra | Head - Partnerships & Supply Chain Finance | Leadership |
Jackson Rajkumar Garnepudi | Credit Head - South (ap, Telangana, Karnataka & Tamil Nadu) | Leadership |
Vinod Kartha | Branch Head | Leadership |
Tarun Arora | Director | Encourage Capital | Leadership |
Prathamesh Prabhu | Assistant Vice President-marketing | Leadership |
Savyasanchi Singh | Information Technology Manager | Team |
Kamlesh Singh | Sr Sales Manager | Team |
Aditya Deshpande | Branch Credit Manager | Team |
Akash Pawar | Branch Manager | Team |
Shraddha Jain | Business Analyst | Team |
Udit Paul | AVP | Team |
Complete people profiles for Ashv Finance
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Financials of Ashv Finance
Figures of Ashv Finance Limited, the primary company behind Ashv Finance, for FY 2024. Revenue was ₹185 Cr (-16% year on year). EBITDA was ₹7.90 Cr (4% margin). Revenue has grown at a compounded annual rate of +26% over three years and +25% over five years.
- ₹185 CrRevenue · FY 2024 · -16% YoY
- ₹7.90 CrEBITDA · 4% margin
- ₹60.10 CrPaid-up capital
- 32Employees (provident fund records)
- +26%Revenue CAGR, 3 years
- +25%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Ashv Finance Limited are on its company page.
Detailed financial statements for Ashv Finance
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Timeline of Ashv Finance
4 dated milestones of Ashv Finance across 13 years, from founding to its latest funding, stage changes and deals.
- Founded Ashv Finance is founded.
- Funding First funding round of $1.9M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series E, of $11.0M.
Competitors of Ashv Finance
Ashv Finance has 3 listed competitors in our database, 1 of them funded. They include Manappuram Finance, L & T Finance Holdings and IIFL Finance.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| manappuram.com | 1992 | Valapad, India | $39.98M | 32,076 | Consumer and SME loans are provided by Manappuram Finance. | |
| ltfs.com | 1994 | Mumbai, India | 39,216 | Diversified lending services are provided as a non-banking financial institution. | ||
| iifl.com | 1995 | Mumbai, India | 16,076 | Online gold, home, personal, and business loans are provided. |
Detailed competitors of Ashv Finance
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Web traffic of Ashv Finance
The website of Ashv Finance (ashvfinance.com) receives about 2.6K visits a month.
- Monthly visits2.6K
▼ 27.3% vs previous month
Websites whose visitors overlap most with Ashv Finance. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| shriramfinance.in | 100% | 2M | #27,025 | View details | |
| upscale.cash | 96% | View details | |||
| satyamicrocapital.com | 88% | 4.2K | #4,518,077 | View details | |
| rupeeboss.com | 87% | 19.1K | #1,125,441 | View details | |
| mas.co.in | 84% | 33.9K | #1,251,754 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 17 similar websites and full traffic analytics for Ashv Finance
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- 17 similar websites
- Audience overlap
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Top companies in Consumer and SME Loans
3 companies that operate in the same segment as Ashv Finance (Consumer and SME Loans) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Consumer and SME loans are provided by Manappuram Finance. | 1992 | Valapad, Kerala, India | USD 39.98 M | USD 1.01 B | 51,650 | |
Affordable home loans are extended to low and middle-income groups. | 2010 | Mumbai, Maharashtra, India | USD 209.7 M | USD 204.93 M | 1,634 | |
Diversified lending services are provided as a non-banking financial institution. | 1994 | Mumbai, Maharashtra, India | USD 1.9 B | 167 |
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Related news about Ashv Finance
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Frequently Asked Questions about Ashv Finance
Ashv Finance was founded in 2010 and raised its 1st funding round 3 years after it was founded.
Ashv Finance is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Vineet Chandra Rai is the CEO of Ashv Finance, as recorded in our data. They have also founded this company.
Ashv Finance is a funded company, having raised a total of $53M across 12 funding rounds to date. The company's 1st funding round was a Angel Round of $99.03K, raised on Feb 2013.
The primary company behind Ashv Finance, Ashv Finance Limited, reported revenue of ₹185 Cr for FY 2024, down 16% year on year.
Ashv Finance was founded in 2010 and is headquartered in Mumbai, India. Operations are focused on the financial services sector, where business loans are extended to support various enterprises. Services include funding solutions tailored for business growth and operations. The company is led by key executives such as Vineet Chandra Rai as Founder CEO and Nikesh Kumar Sinha as CEO Managing Director. Geographic presence is centered in India.
Ashv Finance's top competitors include Manappuram Finance, L & T Finance Holdings and IIFL Finance.
Ashv Finance offers Unsecured Business Loans, Secured Business Loans, GST Surrogate, Banking Surrogate, and Solar Rooftop Financing.
Ashv Finance has 19 investors. Key investors include Triodos Bank, Michael & Susan Dell Foundation, Encourage Capital, Aavishkaar Capital, and John Arunkumar Diaz.
The valuation of Ashv Finance is $66.09M as of Dec 2023.
Ashv Finance operates through Ashv Finance Limited.
The legal entities of Ashv Finance currently have 11 directors, including Radha Krishna Mathur, Rajat Mohan Nag, Nikesh Kumar Sinha and others.