Veritas Finance

Veritas Finance is a non-banking finance company (NBFC) that issues loans to micro, small and medium-sized enterprises (MSMEs).

Veritas is focused on making a true impact through inclusive access to financial services on the customers engaged in informal activities.

Veritas Finance was founded in November 2015 by Arulmany Duraisamy. The company is headquartered in Chennai, with presence across India.

 

Veritas has divided the product segments under three heads – MSME Rural, MSME Urban and Home loans that caters to the various financing needs of the MSME sector – medium-term business loans, short-term working capital needs and long-term housing needs respectively.

 

Veritas’ in-depth understanding of micro-SME businesses across different geographies combined with strong frameworks has enabled it to build a large, diversified franchise. Today, it serves across eight states and one union territory primarily offering secured small business loans with an average ticket size of Rs 5 lakh.

 

Veritas has grown the loan book to more than 3,534 crores as of Mar 2023, expanded to 287 branches and having over 116,403 customers across various regions. 

 

Veritas Finance is backed by Norwest Venture Partners, Multiples PE, International Finance Corporation (IFC), Avendus Future Leaders Fund, Kedaara Capital, British International Investment (BII), Lok Capital, and others. The company raised Rs 1,200 crore ($146M) in new financing round on Jul 05, 2023. This brings Veritas' total funding to $326M to date.

 

 

  • Year founded: 2015
  • Funding Info: $326M over 8 Rounds (Latest Funding Type: Private Equity)
  • Yearly Revenue: NA
  • Employee Size: 1,001-5,000
  • Business Valuation: NA
  • City/Town: Chennai
  • State: Tamil Nadu
  • Country: India
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