Micro MSME fintech platform ARTH raises $2.5 mn from KfW arm and others
- ByStartupStory | June 8, 2022
DEG – Deutsche Entwicklungs- und Investitionsgesellschaft / subsidiary of KfW, MIT Alumni, and top notch impact-driven US & Canadian angel investors led a $2.5 million round of fundraising for Micro MSME Fintech ARTH.
With the first personal investment provided by the founder, friends, and family, ARTH has now raised a total of $3.5 million. The new round of capital will be utilised to extend the company’s financial services, with the goal of becoming a one-stop-shop for Micro MSMEs. To fulfil the scale needs, it will also be utilised to expand technical skills and establish comprehensive risk management systems.
ARTH is a regulated MSME Fintech founded by Shweta Aprameya in 2018 to address a multi-billion-dollar credit gap in India’s micro and nano enterprises. With an emphasis on gender financing, ARTH’s major goal is to provide access to inexpensive formal financial services for these enterprises in order to have a transformative influence on their lives.
ARTH Founder Shweta Aprameya said that through a well-balanced data-driven phydigital distribution strategy that works for the segment, ARTH is on a mission to engage, assist, and service millions of capital-starved underprivileged businesses. The firm is attempting to introduce this refreshing shift in financial services strategy to being a proactive financing partner to the Micro MSME at ARTH.
With its phydigital approach, the firm hopes to grow to 1 million nano and micro-business owners, delivering both credit and payment services, with the goal of becoming India’s leading revenue-generating start-up for the MSME market. In India, fintech has already helped 3,50,000 people get credit and insurance, many of whom are new to formal credit.
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