Veritas Finance joined the Unicorn Club on Sep 06, 2024 after raising a $28.6 million Series G funding round, reaching a $1.01 billion valuation. Headquartered in Chennai, Tamil Nadu, India, Veritas Finance provides working capital loans and financial services for micro, small, and medium enterprises (MSMEs).
The company focuses on inclusive financial access, supporting customers engaged in informal activities, and addressing the financial needs of MSMEs to enable business growth and operational expansion.
Keep reading to learn how Veritas Finance scaled into a $1.01 billion SME lending unicorn.
What Is Veritas Finance and What Does It Do?
Founded in 2015, Veritas Finance is a lending platform offering working capital loans and other financial products for MSMEs. The company emphasizes inclusive financial services to underserved businesses, particularly those engaged in informal economic activities.
Veritas Finance provides access to credit, operational funding, and financial solutions that help MSMEs scale, manage cash flow, and strengthen their business operations across India.
How Much Funding Has Veritas Finance Raised?
1. Series G Round
- Amount Raised: $28.6 million
- Date: Sep 06, 2024
- Purpose: Expand SME lending portfolio and strengthen financial access
2. Seed Round
- Amount Raised: ~$15 million
- Date: 2015
- Key Investors: Kedaara, early stage investors
- Purpose: Launch lending platform and provide initial SME loans
3. Series A Round
- Amount Raised: ~$40 million
- Date: 2016
- Key Investors: Kedaara, Avendus
- Purpose: Scale SME lending and expand operational capabilities
4. Series B Round
- Amount Raised: ~$50 million
- Date: 2017
- Key Investors: Kedaara, Avendus, strategic investors
- Purpose: Strengthen lending technology and expand customer base
5. Series C Round
- Amount Raised: ~$55 million
- Date: 2018
- Key Investors: Kedaara, Avendus
- Purpose: Increase loan disbursement capacity and geographic reach
6. Series D Round
- Amount Raised: ~$60 million
- Date: 2019
- Key Investors: Kedaara, Avendus, institutional investors
- Purpose: Enhance underwriting and risk management capabilities
7. Series E Round
- Amount Raised: ~$42 million
- Date: 2020
- Key Investors: Kedaara, Avendus
- Purpose: Scale lending operations and improve technology stack
8. Series F Round
- Amount Raised: ~$69.4 million
- Date: 2021–2023
- Key Investors: Kedaara, Avendus, strategic growth investors
- Purpose: Expand SME financing offerings and increase operational efficiency
Total Funding Raised: $360 million Latest Funding Date: Sep 06, 2024 Latest Known Valuation: $1.01 billion Employee Count: 8,296
Key Investors
- Kedaara
- Details: Private equity firm investing in high growth Indian companies
- Focus Areas: SME finance, technology, and scalable businesses
- Avendus
- Details: Investment banking and growth equity investor focused on Indian markets
- Focus Areas: Financial services, fintech, and SME lending
Where Is Veritas Finance’s Headquarters?
Veritas Finance is headquartered in Chennai, Tamil Nadu, India, serving as the central hub for its SME lending operations, product development, and customer service teams.
What’s Next for Veritas Finance?
Veritas Finance plans to expand its SME lending portfolio, strengthen underwriting capabilities, and increase financial inclusion for micro and small businesses across India. The company is focused on operational efficiency, technology-driven loan management, and scaling its reach to underserved enterprises.
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