# Save Financial Services Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/save-financial-services-pvt

- Industry: Financial Services
- Headquarters: Gaya, India
- Website: www.saveind.in
- Total disclosed funding: $3M
- Latest round: Series A (May 10, 2024)
- Investors on record: 2

## About

Established in 2009 and based in Bihar, India, Save Financial Services Pvt. Ltd. is a financial services provider that offers loans to small and medium enterprises, financial support, and banking services through its network of banking correspondents, including group and company loans. The company operates over 10,000 kiosks in 18 states across the country, offering basic financial services to customers. The company was originally established in Gaya, Bihar, as a local bank focusing on rural market. In 2017, the company diversified into microfinancing to work as an NBFC-MFI, a kind of operation rely on joint liability group lending methodology. In May 2024, Save Solutions Private Limited raised USD 10 million in venture funding from returning investor Incofin Investment Management. The round was part of a larger USD 13 million in equity funding.

The company works as a microfinancing institution in India, providing services to micro-enterprises in rural areas. It also provides loans against properties, RFID (ETC), a fast toll system used in India, and other basic banking services.

The company generates revenue from its banking business, such as loaning, financial consultancy, and charging for RFID.

The company will use the funding in 2024 to expand its product offerings through its subsidiaries, providing microfinance loans, secured MSME loans, and affordable housing loans.

## Funding rounds

- Series A, May 10, 2024, $3M — Maj Invest, Incofin Investment Management

## Investors

- Maj Invest (https://capitalatlas.ai/funds/maj-invest) — Series A
- Incofin Investment Management (https://capitalatlas.ai/funds/incofin-investment-management) — Series A