About Pahal Financial Services
Pahal Financial Services is a Financial Services company based in Ahmedabad (India) founded in 2011 by Daksha Niranjan Shah, Purvi Bhavsar, Bhavsar, and Kartik Shailesh Mehta. Microfinance services are provided to low-income households via loan products. Pahal Financial Services has raised $43.88 million across 24 funding rounds from investors including L & T Finance Holdings, Northern Arc Capital and Vivriti Capital. The company has 3,714 employees. Pahal Financial Services was last valued at $67.72 million in March 2025. Its chief executive, as recorded, is Kartik Mehta. Its website pahalfinance.com draws about 29 thousand monthly visits. Its Indian entity Pahal Financial Services Private Limited reported revenue of ₹505 Cr. Pahal Financial Services offers products and services including Joint Liability Group Loan, Individual Loan, Vehicle Loan, and Supplementary Products. Its focus areas include Microfinance, Microcredit and Sustainability Tech. Its competitors include Ujjivan Small Finance Bank, Jana Small Finance Bank and AU Small Finance Bank; 3 of its 3 listed competitors have raised funding.
Company details
Pahal Financial Services was founded in 2011 in Ahmedabad, India, within the microfinance sector. Various loan products, such as joint liability group loans, individual loans, and vehicle loans, are offered to support low-income households. Supplementary financial products are also provided. Operations emphasize affordability and transparency, with services extended across regions to promote financial inclusion. The companys activities are centered on enhancing client livelihoods through accessible credit options.
- Headquarters Ahmedabad, India
- Employees 3,714
- Founders Daksha Niranjan Shah, Purvi Bhavsar, Bhavsar, Kartik Shailesh Mehta
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website pahalfinance.com
- Social LinkedIn Facebook Instagram
- Legal Name Pahal Financial Services Private Limited
- Date of Incorporation 01 Dec, 1994
- Jurisdiction Ahmedabad, Gujarat, India
- Annual Revenue₹505 Cr
FY 2025 · +9% YoY
- Net Profit₹6.37 Cr
FY 2025 · 1% margin
- EBITDA₹272 Cr
FY 2025 · 54% margin
- Total Equity Funding$43.88M (USD)
in 24 rounds
- Latest Funding Round$17.17M (USD), Series C
Mar 2025
- InvestorsL & T Finance Holdings
& 25 more
- Employee Count3,714
Associated legal entities of Pahal Financial Services
Pahal Financial Services operates through Pahal Financial Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Pahal Financial Services Private Limited CIN U65910GJ1994PTC082668 | Active | 01 Dec 1994 | Ahmedabad, Gujarat | ₹505 Cr | 3,163 | 11 | View details |
Products & Services of Pahal Financial Services
Pahal Financial Services offers a comprehensive portfolio of products and services, including Joint Liability Group Loan, Individual Loan, Vehicle Loan, and Supplementary Products.
Group-based loans for low-income households to foster financial inclusion.
Personal loans for individuals to support livelihood and economic activities.
Loans for vehicle purchases to enhance mobility and income generation.
Additional financial services linked to core loans for client support.
Funding Insights of Pahal Financial Services
Pahal Financial Services has successfully raised a total of $43.88M across 24 strategic funding rounds. The most recent funding activity was a Series C round of $17.17 million completed in March 2025. 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 $43.88M
- Total Rounds 24
- Last Round Series C — $17.17M
- First Round $618,640
(Mar 2011)
- Investors Count 26
Latest 10 of 24 funding rounds of Pahal Financial Services 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 |
|---|---|---|---|---|---|
| Mar 2025 | $17.17M | Series C | $67.72M | Green Climate Fund | |
| Sep 2023 | $12M | Debt – Conventional | – | – | |
| Mar 2023 | $2.43M | Series B | – | – | |
| Apr 2022 | Debt – Conventional | – | – | ||
| Apr 2022 | $10M | Series A | $14.24M | The Huruma Fund | – |
| Jun 2021 | $5M | Debt – Conventional | – | – | |
| Dec 2019 | $4.75M | Debt – Conventional | $••••• | – | – |
| Sep 2019 | $6.73M | Series A | $••••• | BOPA | |
| Jun 2019 | $2.16M | Debt – Conventional | – | – | |
| Mar 2019 | $864,986 | Debt – Conventional | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Mar 2025 | $67.72M | •••••••• |
| Apr 2022 | $14.24M | •••••••• |
| Dec 2019 | $••••• | •••••••• |
| Sep 2019 | $••••• | •••••••• |
| Sep 2018 | $••••• | •••••••• |
| Feb 2018 | $••••• | •••••••• |
| Aug 2016 | $••••• | •••••••• |
| Jan 2016 | $••••• | •••••••• |
Full valuation and stage history of Pahal Financial Services
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 $67.72M (Mar 2025). 26 investors in total: 18 institutional and 8 angel.
Investors in Pahal Financial Services
Pahal Financial Services has secured backing from 26 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include L & T Finance Holdings, Northern Arc Capital and Vivriti Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Government agency supporting the development of SMEs | 2019 | dfc.gov | ||
Private equity firm focused on smaller and mid-sized microfinance institutions | bopamicrofinance.com | Singapore, Singapore | ||
Debt and equity investments are managed by this private fund. | 2001 | blueorchard.com | Zurich, Switzerland | |
Environmental infrastructure investments are managed by the fund. | 2010 | greenclimate.fund | Incheon, South Korea | |
Independent asset manager specializing in equity investments and value philosophy. | 2014 | magallanesvalue.com | Madrid, Spain | |
Household and business loans are provided with risk management support. | 2006 | northernarc.com | Chennai, India | |
Crop investment services are provided by The Huruma Fund. | fondohuruma.com | Madrid, Spain | ||
WaterEquity is focused on impact investments in water and sanitation. | 2017 | waterequity.com | Kansas City, United States | |
Microcredit is provided to low-income individuals and businesses. | 2008 | dia-vikas.org | Gurugram, India |
Investor details for Pahal Financial Services
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Board of directors of Pahal Financial Services Private Limited (Pahal Financial Services)
Pahal Financial Services Private Limited is the primary company behind Pahal Financial Services. The board of Pahal Financial Services Private Limited currently have 9 directors; the longest-serving is Kartik Shailesh Mehta, appointed in 2011. 26 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Kartik Shailesh Mehta DIN 02083342 | Managing Director | 08 Feb 2011 | 15 yrs 9 mo | Pahal Financial Services Private Limited |
| Purvi Jayendra Bhavsar DIN 02102740 | Managing Director | 08 Feb 2011 | 15 yrs 9 mo | Pahal Financial Services Private Limited |
| Satish Gordhan Mehta DIN 00110640 | Director | 21 Jul 2021 | 5 yrs 3 mo | Pahal Financial Services Private Limited |
| Luca Torre DIN 09747393 | Nominee Director | 01 Sep 2023 | 3 yrs 2 mo | Pahal Financial Services Private Limited |
| De Silva Niroshani Sawanawadu DIN 08227028 | Nominee Director | 01 Sep 2023 | 3 yrs 2 mo | Pahal Financial Services Private Limited |
| Vaibhav Suhas Joshi DIN 10810824 | Director | 29 Oct 2024 | 2 yrs | Pahal Financial Services Private Limited |
| Alpana Indrajit Killawala DIN 10821462 | Director | 12 Nov 2024 | 1 yr 11 mo | Pahal Financial Services Private Limited |
| Guillaume Jean Barberousse DIN 11038651 | Nominee Director | 21 Jul 2025 | 1 yr 3 mo | Pahal Financial Services Private Limited |
| Saurabh Baroi DIN 02723687 | Additional Director | 15 Sep 2025 | 1 yr 1 mo | Pahal Financial Services Private Limited |
People of Pahal Financial Services
22 people are tracked at Pahal Financial Services (16 in leadership, 4 in board & advisors, 2 in team); the tracked headcount is 3,714.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership | |
Bhavsar | Co-Founder | Leadership |
| Co-Founder | Leadership | |
| CEO | Leadership | |
Dharmesh Shah | Associate Director | Leadership |
Rajeev Ranjan | Head - Projects | Leadership |
Premprakash Patel | Business Head, Secured Loans | Leadership |
Chintan C Desai | Chief Financial Officer | Leadership |
Dinesh Yadav | Head, IT | Leadership |
| Co-Founder & MD | Leadership | |
Firuzi M Vakil | Head Operations | Leadership |
| Co-Founder & MD | Leadership | |
Rajesh Pathak | Regional Head | Leadership |
Jitendra Priyadarshi | Head, HR & Training | Leadership |
Unnat Parghi | Deputy Chief Financial Officer | Leadership |
| Nominee Director | Board & advisors | |
Deepali Pant Joshi | Independent Director | Board & advisors |
Venkatraman G Iyer | Independent Director | Board & advisors |
| Chairman | Board & advisors |
2 more people are available in the full profile.
Complete people profiles for Pahal Financial Services
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Financials of Pahal Financial Services
Figures of Pahal Financial Services Private Limited, the primary company behind Pahal Financial Services, for FY 2025. Revenue was ₹505 Cr (+9% year on year). Net profit was ₹6.37 Cr (1% margin). EBITDA was ₹272 Cr (54% margin). Revenue has grown at a compounded annual rate of +43% over three years and +29% over five years.
- ₹505 CrRevenue · FY 2025 · +9% YoY
- ₹6.37 CrNet profit · 1% margin
- ₹272 CrEBITDA · 54% margin
- ₹64.84 CrPaid-up capital
- 3,163Employees (provident fund records)
- +43%Revenue CAGR, 3 years
- +29%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Pahal Financial Services Private Limited are on its company page.
Detailed financial statements for Pahal Financial Services
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Pahal Financial Services
4 dated milestones of Pahal Financial Services across 14 years, from founding to its latest funding, stage changes and deals.
- Founded Pahal Financial Services is founded.
- Funding First funding round of $619K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series C, of $17.2M.
Competitors of Pahal Financial Services
Pahal Financial Services has 3 listed competitors in our database, 3 of them funded. They include Ujjivan Small Finance Bank, Jana Small Finance Bank and AU Small Finance Bank.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ujjivansfb.in | 2005 | Bengaluru, India | $153.96M | 22,566 | Small finance services are extended to underserved segments in India. | |
| janabank.com | 1999 | Bengaluru, India | $814.02M | 29,388 | Microfinance bank | |
| aubank.in | 1996 | Jaipur, India | $118M | 31,943 | Collateralised loans for commercial vehicles are extended to rural entrepreneurs. |
Detailed competitors of Pahal Financial Services
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Web traffic of Pahal Financial Services
The website of Pahal Financial Services (pahalfinance.com) receives about 29.5K visits a month.
- Monthly visits29.5K
▲ 181.9% vs previous month
Websites whose visitors overlap most with Pahal Financial Services. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| ptcfinancial.com | 100% | 2.6K | #5,653,631 | View details | |
| blendfinance.com | 98% | 2K | #7,140,502 | View details |
Top companies in Microfinance
3 companies that operate in the same segment as Pahal Financial Services (Microfinance) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Microfinance banking services are offered in India by ESAF. | 1992 | Thrissur, Kerala, India | USD 101.74 M | USD 474.19 M | 12,520 | |
Micro loans for businesses are offered by this NBFC. | 1990 | Delhi, Delhi, India | USD 40 M | USD 310.26 M | 752 | |
Provider of microloans | 2010 | Delhi, Delhi, India | USD 71.68 M | 12,403 |
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Related news about Pahal Financial Services
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Frequently Asked Questions about Pahal Financial Services
Pahal Financial Services was founded in 2011.
Pahal Financial Services is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Kartik Mehta is the CEO of Pahal Financial Services, as recorded in our data.
Pahal Financial Services is a funded company, having raised a total of $43.88M across 24 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $864.99K, raised on Mar 2011.
Pahal Financial Services has 3,714 employees.
The primary company behind Pahal Financial Services, Pahal Financial Services Private Limited, reported revenue of ₹505 Cr for FY 2025, up 9% year on year.
Pahal Financial Services was founded in 2011 in Ahmedabad, India, within the microfinance sector. Various loan products, such as joint liability group loans, individual loans, and vehicle loans, are offered to support low-income households. Supplementary financial products are also provided. Operations emphasize affordability and transparency, with services extended across regions to promote financial inclusion. The companys activities are centered on enhancing client livelihoods through accessible credit options.
Pahal Financial Services's top competitors include AU Small Finance Bank, Ujjivan Small Finance Bank and Jana Small Finance Bank.
Pahal Financial Services offers Joint Liability Group Loan, Individual Loan, Vehicle Loan, and Supplementary Products.
Pahal Financial Services has 26 investors. Key investors include L & T Finance Holdings, Northern Arc Capital, Vivriti Capital, Hinduja Leyland Finance, and Dvara.
The valuation of Pahal Financial Services is $67.72M as of Mar 2025.
Pahal Financial Services operates through Pahal Financial Services Private Limited.