# Finova Capital Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/finova-capital-pvt

- Industry: Financial Services
- Headquarters: Jaipur, India
- Website: www.finova.in
- Total disclosed funding: $248M
- Latest round: Series E (Oct 29, 2024)
- Investors on record: 7

## About

Finova Capital Pvt. Ltd. provides tailored financial solutions to individuals and businesses in India, focusing on enhancing access to credit, investment management, and financial optimization.Finova Capital Pvt. Ltd., founded in 2015 in Jaipur, India, specializes in financial services. The company has executed 9 deals to date, with its most recent deal occurring on October 29, 2024. Finova raised USD 135 mn in SERIES E funding, co-led by Avataar Venture Partners and Sofina, among others. Founders Mohit Sahney and Sunita Sahney have a history of driving innovative financial solutions. The company is not known to have subsidiaries or parent companies.Finova specializes in a diverse range of financial solutions, including services for individuals and businesses aimed at optimizing financial management. Their offerings address critical financial challenges like credit access and investment management, catering primarily to small to medium-sized enterprises and individual consumers in urban areas of India. The company leverages technology to improve user experiences and facilitate better financial decision-making.In the most recent financial year 2023, Finova generated a revenue of USD 41.05 mn and achieved an EBITDA of USD 24.56 mn. The company's revenue model encompasses both B2B and B2C transactions, likely featuring subscription-based services and direct payments, which integrate with clients' financial management needs.Finova plans to leverage its recent USD 135 mn SERIES E funding, obtained in October 2024, to grow its loan book, invest in technology, and expand geographically. This funding will support their goal of enhancing financial inclusion at scale. The company aims to design and launch new financial products targeting underserved markets, with specific plans for geographic expansion into additional urban areas across India within the next few years.

## Funding rounds

- Series E, Oct 29, 2024, $135M — Norwest Venture Partners, Sofina, Maj Invest, Faering Capital, Madison India Capital, Avataar Venture Partners, Peak XV Partners
- Series D, Mar 31, 2022, $59M — Norwest Venture Partners, Maj Invest, Faering Capital
- Series C, Oct 27, 2020, $36M — Faering Capital, Peak XV Partners
- Series B, Mar 25, 2019, $15M — Faering Capital, Peak XV Partners
- Series A, Sep 11, 2017, $2.5M — Peak XV Partners

## Investors

- Peak XV Partners (https://capitalatlas.ai/funds/peak-xv-partners) — Series A, Series B, Series C, Series E
- Faering Capital (https://capitalatlas.ai/funds/faering-capital) — Series B, Series C, Series D, Series E
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series D, Series E
- Maj Invest (https://capitalatlas.ai/funds/maj-invest) — Series D, Series E
- Sofina — Series E
- Madison India Capital (https://capitalatlas.ai/funds/madison-india-capital) — Series E
- Avataar Venture Partners (https://capitalatlas.ai/funds/avataar-venture-partners) — Series E