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Rural lending startup SarvaGram has raised Rs 565 crore in a Series D funding round led by Peak XV Partners as it looks to expand its credit business.

The round also witnessed participation from existing shareholders including Elevar Equity, Elevation Capital, Temasek, and TVS Capital.

This round takes the company’s total funding to Rs 950 crore.

“The fundraise will boost our mission of putting more power in the hands of rural households by enhancing their access and ease them into a curated set of financial and productivity-enhancing solutions,” noted Utpal Isser, Co-founder and CEO, SarvaGram Solutions.

SarvaGram, which provides loan services, insurance products and farm mechanisation services to rural households, plans to use the funds to supplement its growth and profitability trajectory.

“With over 25 years of experience each in serving the financial needs of rural, middle-income families in India, Utpal and Sameer have developed and scaled specialised products tailored for this segment. They are building SarvaGram with a unique, household-focused approach to bridge a critical gap in financial access,” highlighted  Chinmaya Golecha, Principal, Peak XV.

The Pune-based startup claims it has served over 100,000 customers across five states through 150 branches. It has amassed assets under management of about Rs 1,200 crore of loans, with over 70% of its portfolio being secured by property as collateral.

Founded in 2019 by veteran bankers Utpal Isser and Sameer Mishra, SarvaGram offers customised financial and capacity-enhancing solutions using its data-led platform for three key household segments—farm, salaried, and MSE households.

Avendus Capital was the exclusive financial advisor to SarvaGram in this transaction.