About Utkarsh Bank
Utkarsh Bank is a company based in Varanasi (India) founded in 2009.. Utkarsh Bank has raised $33 million across 1 funding round from investors including responsAbility, Growth Catalyst Partners and Olympus Capital Asia. The company has 19,780 employees as of March 31, 2024. Utkarsh Bank operates in a competitive market with competitors including Ujjivan Small Finance Bank, Jana Small Finance Bank, AU Small Finance Bank, Suryoday and Fincare Small Finance Bank, among others.
- Headquarter Varanasi, India
- Employees 19780 as on 31 Mar, 2024
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Utkarsh Small Finance Bank Limited
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Annual Revenue
$510.16 M (USD)22.02as on Mar 31, 2024
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Net Profit
$2.77 M (USD)-95.24as on Mar 31, 2024
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EBITDA
$-13.3 K (USD)0as on Mar 31, 2017
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Total Equity Funding
$33 M (USD)
in 1 rounds
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Latest Funding Round
$33 M (USD), Series A
Mar 22, 2021
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Investors
responsAbility
& 4 more
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Employee Count
19780
as on Mar 31, 2024
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IPO & Listings of Utkarsh Bank
Utkarsh Bank is a publicly listed company on the NSE with ticker symbol UTKARSHBNK in India, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
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Funding Insights of Utkarsh Bank
Utkarsh Bank has successfully raised a total of $33M through 1 strategic funding round. The most recent funding activity was a Series A round of $33 million completed in March 2021. 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 Total Funding
- Total Rounds 1
- Last Round Series A — $33.0M
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First Round
First Round
(22 Mar 2021)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2021 | Amount | Series A - Utkarsh Bank | Valuation | Olympus Capital Asia |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Utkarsh Bank
Utkarsh Bank has secured backing from 5 investors, including venture fund investors. Prominent investors backing the company include responsAbility, Growth Catalyst Partners and Olympus Capital Asia. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity investment firm
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Founded Year | Domain | Location | |
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Diversified investment portfolios are managed for various clients.
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Founded Year | Domain | Location | |
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Middle-market businesses are invested in by this private equity fund.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Utkarsh Bank
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Utkarsh Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Utkarsh Bank Comparisons
Competitors of Utkarsh Bank
Utkarsh Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Ujjivan Small Finance Bank, Jana Small Finance Bank, AU Small Finance Bank, Suryoday and Fincare Small Finance Bank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Small finance services are extended to underserved segments in India.
|
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| domain | founded_year | HQ Location |
Microfinance bank
|
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| domain | founded_year | HQ Location |
Collateralised loans for commercial vehicles are extended to rural entrepreneurs.
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| domain | founded_year | HQ Location |
Small finance bank offering savings accounts, deposits, and loan products
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| domain | founded_year | HQ Location |
Micro-finance bank
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| domain | founded_year | HQ Location |
Small finance bank
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Utkarsh Bank
Frequently Asked Questions about Utkarsh Bank
When was Utkarsh Bank founded?
Utkarsh Bank was founded in 2009 and raised its 1st funding round 12 years after it was founded.
Where is Utkarsh Bank located?
Utkarsh Bank is headquartered in Varanasi, India. It is registered at Varanasi, Uttar Pradesh, India.
Who is the current CEO of Utkarsh Bank?
Govind Singh is the current CEO of Utkarsh Bank.
Is Utkarsh Bank a funded company?
Utkarsh Bank is a funded company, having raised a total of $33M across 1 funding round to date. The company's 1st funding round was a Series A of $33M, raised on Mar 22, 2021.
How many employees does Utkarsh Bank have?
As of Mar 31, 2024, the latest employee count at Utkarsh Bank is 19,780.
What is the annual revenue of Utkarsh Bank?
Annual revenue of Utkarsh Bank is $510.16M as on Mar 31, 2024.
What does Utkarsh Bank do?
Utkarsh Bank was founded in 2009 in Varanasi, India, as a small finance bank. Credit services under the JLG model were initially provided, followed by additions of microenterprise loans, housing loans, and micro pension products. Operations now include MSME loans, deposit accounts, insurance, mutual funds, remittances, debit cards, ATMs, and POS payments across the country.
Who are the top competitors of Utkarsh Bank?
Utkarsh Bank's top competitors include AU Small Finance Bank, Ujjivan Small Finance Bank and ESAF.
Is Utkarsh Bank publicly traded?
Yes, Utkarsh Bank is publicly traded on NSE under the ticker symbol UTKARSHBNK.
Who are Utkarsh Bank's investors?
Utkarsh Bank has 5 investors. Key investors include responsAbility, Growth Catalyst Partners, Olympus Capital Asia, Triodos Investment Management, and Aavishkaar Capital.
What is Utkarsh Bank's ticker symbol?
The ticker symbol of Utkarsh Bank is UTKARSHBNK on NSE.
What is Utkarsh Bank's valuation?
The valuation of Utkarsh Bank is $334.92M as of Mar 2021.
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