Non-banking financial company (NBFC), Sugmya Finance Pvt Ltd. has announced that it has registered 295% growth in FY23 through its aggressive expansion plans.
The company’s consolidated Asset Under Management (AUM) has touched Rs 302 crores (own book portfolio of Rs 250 crore and managed book portfolio of Rs 52 crore), as compared to Rs 102 crores registered in 2022.
The NBFC said with 1 lakh plus active loan customers on board, Sugmya has cumulatively disbursed loans worth over Rs 465 crores in FY 2023. This is a 370% increase in the number of loan disbursements in the previous year.
Vikas Singh, CEO and Co-Founder of Sugmya Finance said, “Over the last 3 years, we have consistently grown to become pioneers in rural financing. We are thankful to our customers, investors and lending partners who have helped us reach this coveted milestone.”
“Since our inception, we have stayed committed to providing small ticket business loans to entrepreneurs from semi-urban, urban and rural locations. We continue to meet their credit needs through a diversified range of end-to-end financial products and drive financial inclusion in India. I congratulate the entire team for their efforts,” Singh added.
In line with its business expansion plans, the NBFC has increased its footprint and currently has a network of 140 branches. The company has on boarded as many as 41 new lender partners and is associated with leading NBFCs such as Vivriti Capital, Ananya Finance, MAS Financials and Real Touch Finance to name a few.
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