Mumbai based SSA Finserv has raised $3 million in its new round of funding from Blue Ashva Capital.
“The company will use the fresh funds to expand its presence in Tier I and Tier II cities, and to enhance its existing network to support SMEs to gain access for working capital needs,” SSA Finserv said.
Founded in 2019 by Vikas Agarwal, SSA Finserv offers financial solutions through its lending programs that are customized to meet the business cash flow needs of SMEs.
Speaking on the funding in SSA Finserv, Satya Bansal, Founder of Blue Ashva Fund said, “The MSME sector in the country is instrumental in generating large-scale employment. We are proud to be associated with SSA Finserv in their mission to help MSMEs scale up their business.”
“The MSME segment forms the mainstay of the economy. The exclusion of a sizeable number of MSMEs from formal lending ecosystems and the credit crunch in the sector has impacted their growth. The investment from Blue Ashva Capital will further reaffirm our commitment to become the preferred financial partner for MSMEs,” Vikas Agarwal, MD & CEO, SSA Finserv, added.