New Delhi, Shivalik Small Finance Bank on Tuesday said it has raised Rs 100 crore in equity capital from investors such as Lightspeed and Sanjay Nair-founded Sorin Investments along with participation from existing investors Accel and Quona.
The bank plans to use the funding to enhance its technology stack, strengthen its team and further develop its product proposition as it aims to be a digital-first bank for small businesses and the underserved, the bank said in a statement. Continues his journey of making.
Shivalik Small Finance Bank is the first such entity to be converted from an urban co-operative bank in 2021 with over 25 years of experience in offering retail banking products and services.
Anshul Swamy, Managing Director and CEO, Shivalik Small Finance, said, “We are delighted to have our existing investors Accel and Quona Capital on board as our valued partners in our journey to build a digital-first retail bank. Very happy to do." Edge.
He said this investment will help accelerate growth as the bank looks to take advantage of the adoption of digital banking by small business and retail customers.
Swamy said Shivalik aims to reach out to MSMEs and underprivileged retail customers of 'India' through various partnerships.
“We are committed to building on our delivery approach by combining the power of technology with our deep banking experience and developing new products and services to meet the diverse needs of our customers,” he said.
The bank plans to use the funding to enhance its technology stack, strengthen its team and further develop its product proposition as it aims to be a digital-first bank for small businesses and the underserved, the bank said in a statement. Continues his journey of making.
Shivalik Small Finance Bank is the first such entity to be converted from an urban co-operative bank in 2021 with over 25 years of experience in offering retail banking products and services.
Anshul Swamy, Managing Director and CEO, Shivalik Small Finance, said, “We are delighted to have our existing investors Accel and Quona Capital on board as our valued partners in our journey to build a digital-first retail bank. Very happy to do." Edge.
He said this investment will help accelerate growth as the bank looks to take advantage of the adoption of digital banking by small business and retail customers.
Swamy said Shivalik aims to reach out to MSMEs and underprivileged retail customers of 'India' through various partnerships.
“We are committed to building on our delivery approach by combining the power of technology with our deep banking experience and developing new products and services to meet the diverse needs of our customers,” he said.
