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Leading non-banking financial company (NBFC), Sugmya Finance has announced the launch of its 100th branch in Mathura, Uttar Pradesh. In line with its business expansion plans, the tech-enabled company has rapidly increased its footprint through its branch network since its inception in 2019.
Sugmya further raised a debt fund worth over Rs 100 crore.
Speaking on the development, Vikas Singh, Director of Sugmya Finance said, “The year has started on a buoyant note for Sugmya Finance. We are excited about reaching the milestone of 100, both in terms of raising debt funds, as well as branch expansion. Delivering value to our customers through consistent and long-term performance-oriented products has always been a primary focus for us.”
Currently, the NBFC offers a diversified range of end-to-end financial services to men and women from semi-urban, urban and rural locations through its branches across India. Built with a vision of boosting inclusive growth, reducing income inequality, and promoting women’s empowerment, the company has registered a total AUM of Rs 160 crores (its book portfolio of Rs 133 crore and managed book portfolio of Rs 27 crore) and a cumulative disbursement of over Rs 275 crores in 2022.
Sugmya has also announced the onboarding of 26 new lender partners and its association with leading NBFCs such as Vivriti Capital, Ananya Finance, MAS Financials, and Real Touch Finance to name a few.
“Our zero percent default rate, strong investor relations, and partnership with such reputed lenders will enable us to provide innovative customer service. We look forward to capitalizing on new opportunities in the fintech sector and achieving sustained growth with sufficient funding and support,” Vikas Singh added.
Sugmya Finance offers 3 major financial services to help customers grow their ventures: MSME loans, micro-loans (IGL & BL), and consumer durable loans. So far, it has empowered more than 60,000 households through its network presence in 40 districts across 9 states. As a tech-savvy organization, Sugmya Finance is focused on creating a diverse range of tech operations under the ‘Digital India’ initiative, a flagship program of the Government of India.