Funding Roundup: SiftHub Secures $5.5M, Namdev Finvest Bags $19M

Funding in April first week began with a positive note, with SiftHub, the innovative AI platform revolutionizing sales workflow automation, securing a $5.5 million in seed funding, and Namdev Finvest bagging $19M in funding.

The SiftHub funding was spearheaded by Matrix Partners India and Blume Ventures, along with participation from Neon Fund and notable angel investors.

Founded by the visionary entrepreneur Manisha Raisinghani, SiftHub aims to redefine collaboration between teams and streamline workflow processes, empowering sales teams to focus on sealing deals with precision.

“At SiftHub, our mission is to integrate GenAI with cutting-edge workflow automation and collaborative capabilities, providing an unparalleled solution for our users. From the initial information request to the final sale closure, SiftHub remains a steadfast ally for sales organizations,” emphasized Raisinghani, the Founder of SiftHub, whose previous successes include co-founding LogiNext, a Tiger Global Management-backed transportation SaaS startup.

Sanjay Nath, Partner at Blume Ventures, expressed excitement about backing SiftHub, recognizing the potential of their game-changing AI platform in transforming the sales and presales process. “Armed with over a decade of entrepreneurial cross-border experience, Manisha and her team are poised to build a premium SaaS solution from India, for the global market,” Nath added.

On a parallel front, Namdev Finvest Private Limited, a pioneering Non-Banking Financial Company (NBFC) based in Jaipur, has successfully concluded its Pre Series-C funding round, raising a substantial $19 million in just two months following a $15 million Series B round. Maj Invest Financial Inclusion Fund III K/S led the latest funding round, with contributions from the Promoters Group and employees.

Funding Update: Investor Confidence on a high in April First Week

“This significant investment underscores the trust our investors place in Namdev’s mission of fostering financial inclusion. The latest funding infusion will bolster our efforts to extend our services to newly expanded rural areas,” remarked Jitendra Tanwar, Managing Director & CEO of Namdev, highlighting their commitment to bridging financial gaps in underserved communities.

Founded in 2013 by Jitendra Tanwar, Namdev has emerged as a beacon of financial empowerment, catering to the needs of Micro, Small, and Medium Enterprises (MSMEs) through tailored business loans and innovative Green Finance options such as e-mobility and solar loans. With a network of over 100 branches in North-West India, Namdev has disbursed over 50,000 loans, ranging from Rs 4-7 lakh, with an Assets Under Management (AUM) exceeding Rs 1,000 crore.

Siva Vadivelazhagan, Director at Maj Invest Financial Inclusion, commended Namdev’s dedication to serving small businesses and promoting green finance, echoing their commitment to leveraging tech-driven underwriting and a cost-effective liability model.

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