Abler Nordic backs Berar Finance: powering mobility and livelihoods in rural India
We’re excited to share that Abler Nordic has partnered with Berar Finance, a Nagpur-based non-banking financial company (NBFC) providing essential access to finance for low-income households and small businesses across India.
Together with First Bridge India Growth Fund, we’re supporting Berar’s next phase of growth through a ₹150 crore (USD 17 million) investment round. This includes both primary and secondary capital, enabling Berar to deepen its two-wheeler financing business and further expand its secured MSME loan portfolio—a key driver of opportunity for rural and semi-urban entrepreneurs.
Berar provides essential financial access to rural and semi-urban households—most earning under USD 350 per month—to small entrepreneurs, farmers, and small traders, who rely on mobility for income, access capital to grow their enterprises, as well as enable improvement in their quality of life. The fresh capital will be utilised to deepen Berar’s two-wheeler financing presence and expand its secured MSME loan portfolio, a key focus area of growth for the company.
Founded in 1990 and led by Managing Director Sandeep Jawanjal, Berar Finance has grown to serve more than 160 branches across nine Indian states, with an asset base of around USD 170 million.
“The fundraise will enable us to accelerate the expansion of our MSME loan portfolio while continuing to strengthen our presence in the two-wheeler financing segment. Our goal is to evolve into a multi-product NBFC with a strong emphasis on growth, profitability, and asset quality. With the support of our new investors, Abler Nordic and First Bridge, we are well-positioned to build on the robust foundation we have established over the years. We also extend our gratitude to our existing investors, Amicus Capital and Maj Invest, for their continued trust and partnership,” said Sandeep Jawanjal, Managing Director, Berar Finance Limited
“With decades of experience and a nuanced understanding of the regional markets where it operates, Berar Finance has carved out a unique role in supporting rural and peri-urban communities,” said Smriti Chandra, Regional Director at Abler Nordic. “We’re excited to back their growth—helping them reach more households, enhance their digital tools, and design products that truly meet the needs of micro-entrepreneurs. We look forward to working closely with Berar’s strong leadership team, alongside our co-investors, to expand access to responsible finance in India.”
This marks another step in Abler Nordic’s long-standing commitment to building sustainable financial institutions that empower low-income households. Since 2008, Abler Nordic has invested in more than 20 financial service providers across India, including Utkarsh Small Finance Bank, Dvara KGFS, Light Microfinance, Sindhuja Microcredit, Svasti Microfinance, and Sitara Housing (Sewa Grih Rin).
We’re proud to stand alongside our co-investors—First Bridge India Growth Fund, Amicus Capital, and Maj Invest—in supporting Berar Finance as it continues to grow responsibly and sustainably.
Read more about Berar Finance: https://berarfinance.com/
