SAVE Solutions acquires Bengaluru-based SaGgraha Management Services

• ByStartupStory     |    August 10, 2022

India’s leading rural financial services group, SAVE solutions and the management services company SaGgraha had announced their collaborative efforts.

In a deliberate strategy calculated to strengthen the Company’s mission of deeper financial involvement all over India SAVE had acquired SaGgraha Management Services, based in Bangalore.

SaGgraha serves as the foundation of the pyramid population, with the aim of contributing to India’s goal of financial involvement. It currently provides group microfinance loans and intends to expand into both secured and unsecured MSME loans in the near future. 

A team of three domain-expert professionals with experience in finance, operations, technology, and industry-wide networking promote the company SaGgraha.

Delhi based SAVE solutions, gains ready and deep penetration into the diverse South Indian rural markets through this acquisition. In the previous year, the company was also able to acquire a Housing Finance Company, New Habitat Housing Finance and Development Limited, in order to provide its customers with comprehensive financial products.

The acquisition of SaGgraha is transformative in advancing SAVE’s strategic growth priorities in the South Indian financial market. SaGgraha is a renowned regional player, and this association will bring immediate synergies in the areas of governance, technology, operations, and diversification of portfolio. We sincerely thank all our stakeholders for their continued support, especially Incofin’s team for their leadership and Maj Invest’s team for their guidance on the transaction.”said,Ajeet Kumar Singh, Founder Director, & CEO of SAVE Solutions

SAVE, a mid-sized company with over 1700 employees currently, is ready to welcome over 1650 new employees from SaGgraha Management Services Pvt. Ltd, bringing the organisation’s total employee strength to more than 3350.

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