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Svatantra plans to spread across 12 states with 190 branches

Svatantra
A micro finance company named 'Savtantra' is expanding its reach by opening 190 branches across 10-12 states.

Svatantra, micro-finance company founded by Ananya Birla, daughter of Kumar Mangalam Birla, is planning to expand its reach. The company aims to spread its footprint to around 190 branches which will be spread across 10-12 states. Currently they have 85 branches. Apart from that, the firm is also planning to build up its balance sheet of ₹500 crores over the next two years.

Ananya Birla said, “We have seen a compound annual growth rate of 220 percent since inception, and have already touched five states. We plan to expand in scale and make the business more sustainable through the use of technology”.

The company has launched a smartphone-based digitized solution named ‘Saathi’, which helps in digitizing the process starting from loan origination, loan management to disbursal and collection. The firm is open to both organic and inorganic expansion growth. It currently serves 2 lakh beneficiaries and operates in 11,000 villages.

The company is focusing on evaluating products like individual lending, affordable home finance and even small and medium enterprise lending products. Svatantra is currently funded by nine financial institutions, including public and private sector banks and NBFCs .

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