Ambit Finvest Secures Rs 690 Crore Investment from Japanese Securities Giant Daiwa and Other Investors

• ByStartupStory     |    March 27, 2024

Ambit Finvest, a leading non-banking lender in India, has successfully raised Rs 690 crore in funding, with Japan-based Daiwa Securities Group leading the investment charge alongside existing shareholders.

The investment, comprising Rs 415 crore from Daiwa Securities Group and Rs 275 crore from existing shareholders, marks a major milestone for Ambit Finvest, affirming its position as a formidable player in India’s financial landscape.

Ambit Finvest, classified as a systemically important non-banking financial company (NBFC), has carved a niche for itself by offering secured and unsecured business loans, as well as used vehicle loans, primarily catering to micro, small, and medium-sized enterprises (MSMEs) across India. Over the past two years, the company has played a pivotal role in providing financial support to over 68,000 MSME business owners, disbursing loans worth Rs 6,000 crore since its inception in 2018.

Ashok Wadhwa, the Group Chief Executive Officer of Ambit, expressed his optimism about the company’s future trajectory, stating, “We are now at the cusp of a breakout in our business trajectory.” He further emphasized the strategic significance of Daiwa’s investment, highlighting Daiwa as a long-term partner.

Seiji Nakata, President and CEO of Daiwa Securities Group, echoed similar sentiments, underlining the potential of India’s high economic growth in the years to come. Nakata emphasized Daiwa’s commitment to India, citing the existing collaboration with Ambit across various financial sectors, including institutional equities, equity capital markets, and public fundraising. He expressed confidence that the investment in Ambit Finvest would pave the way for an expansion of Daiwa’s business operations in India.

Ambit Finvest’s robust presence spans across 11 states, with 165 branches and a workforce of 2,000 employees. The company has strategically invested in branches and technology to enhance its service delivery to customers and streamline its operations.

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