Elevar Equity led a $35m Series C round in SarvaGram.

Elevar Equity, a private equity firm, led a $35m Series C round in SarvaGram Solutions, a rural household-focused lending and distribution platform, with participation from Elevation Capital, Temasek and TVS Capital Funds. With this funding round, SarvaGram plans to expand its distribution network by adding 75 more outlets (to reach 125) by the end of FY2024. It also plans to expand its on-ground franchisees, SarvaMitra, to 3X its current strength across different States in India. The funds would also be deployed towards strengthening the technology layer, both in terms of hiring tech talent and solidifying SarvaGram’s existing tech stack, to support and enhance business operations.