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From a tractor salesman to running a multi-crore AUM NBFC—Jitendra Tanwar’s journey in impact lending
- Namdev Finvest, a Jaipur based NBFC founded by Jitendra Tanwar, focuses on lending to small businesses and potential customers buying bikes, scooters, or installing solar panels leading to over 1300 Cr INR in Assets Under Management from eight Indian states.
- Having initially started as a tractor salesman at the age of 17, he later moved to direct selling at HDFC before joining Mahindra and Mahindra's tractor arm, MAgNA, and a few local body NBFCs.
- In 2012, he started his own business with the primary focus on MSME Secured Lending, particularly those looking to start or grow small businesses.
- After five years of operations, Namdev Finvest established a loan book of 1.17 crore INR by underwriting two-wheeler loans with a growth of 2.75 crores in the following two years.
- Namdev Finvest primarily serves customers in the MSME sector and small scale manufacturing sectors such as shopkeepers, contractors, carpenters, and small-scale services providers like beauticians and tea stall owners.
- Namdev Finvest is known for its ''phygital'' approach, meaning both physical and digital methods, providing customers with digital processes while meeting physical interaction requirement in underserved communities.
- Namdev is committed to Environmental, Social, and Governance (ESG) principles and has introduced green financing products such as loans for e-rickshaws and rooftop solar installations, promoting sustainable development.
- Namdev Finvest faces stiff competition from both traditional banks and other NBFCs. However, it operates in specialised silos, making its underwriting process quicker and more reliable.
- Operating in India’s growing NBFC space comes with challenges, including hurdles for MSME borrowers on Credit assessments and high operational costs.
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