Financial advice and capital provider Ambit Finvest has secured a strategic investment of Rs 690 crore from a Japanese securities group and other existing investors. The fresh capital is aimed to accelerate its market presence and fuel next phase of growth.
Japan-based Daiwa Securities Group, which is associated with Ambit Group in other businesses, will gain a minority stake for its Rs 415-crore investment, a statement said. The balance Rs 275 crore has been raised from existing shareholders, including the parent, the statement said.
Ambit Finvest provides secured and unsecured business loans, as well as used vehicle loans, to micro small and medium-sized enterprises in India since two years, and has invested in branches and technology, the statement said.
Ambit Finvest Serves More than 68,000 MSME Business Owners
Classified as a systemically important non-banking financial company (NBFC), it has enabled over 68,000 MSME business owners by offering them business loans for funding their plans. Since its inception in 2018 the company has disbursed over Rs 6,000 crore worth of loans and presently has more than Rs 3,800 crore in assets under management. It currently operates in 11 states through 165 branches and 2,000 employees.
Ambit Finvest‘s group chief executive officer Ashok Wadhwa said the NBFC is now “at the cusp of a breakout” in business trajectory and added that Daiwa is a long-term strategic investor.
“We see India as a strategically important country which is expected to experience high economic growth in the coming years,” Seiji Nakata, President and CEO of Daiwa Securities Group, stated.
Commenting on the existing partnership with Ambit, which encompass collaboration on institutional equities, equity capital markets (IPO), public fund-raising and related businesses leveraging the Indo-Japan corridor, Nakata said with the investment in Ambit Finvest, there is a potential for an expansion of its business operations in India.
