Finova Capital Soonicorn

MSME Business Loan and Home Loan: Rs 2 Lakhs to Rs 25 Lakhs, repayment tenure 3 to 10 years, secured against immovable properties.

Efficient processes, technology and a personalized approach to serve customers who lack formal income documentation.

The financially-excluded small-time manufacturers, handymen and service providers, such as electricians, plumbers and carpenters, besides paanwalas, milkmen, laundrymen and hairdressers.

Business and home loan customers targeted in semi-urban and rural areas, loan sizes INR 3-25 Lakh.

Finova pairs applicants with a dedicated team that works through flexible documentation alternatives so borrowers who lack standard paperwork can still access financing.

Customer complaints escalate from the branch/customer-care desk (15-day response) to a named Grievance Redressal Officer and Principal Nodal Officer, and finally to the RBI Ombudsman if unresolved after 30 days.

A dedicated Support Desk (csd@finova.in, 0141-6699999) handles customer queries during fixed daily hours, alongside a 'Pay EMI' online portal for self-service loan repayment.

400 branches across 16 states as of the Series E announcement (Oct 2024).

Grew to 439 branches across 16 states by June 30, 2025, after opening 93 new branches in FY25 and entering a new state, Tamil Nadu.

Technology-driven underwriting and origination for borrowers lacking formal income documentation, cited as a core driver of profitable growth.

Finova is led by MD & CEO Mohit Sahney (27+ years in financial services, including ICICI Bank) and ED Sunita Sahney (23+ years, including Shyam Telelink and Tata Teleservices), who together hold about 17% of the company.

Instead of relying on formal credit history, Finova underwrites borrowers using an in-house cash-flow analysis methodology, letting it serve micro-entrepreneurs who lack conventional documentation.

As of March 31, 2025, Finova's capital adequacy ratio stood at 47.15% (Tier-I: 47.08%) on a tangible net worth of ₹1,919.78 crore, giving it headroom to keep growing its loan book.

Backed by Peak XV Partners (formerly Sequoia Capital India), Norwest Venture Partners, Faering Capital, Maj Invest, Sofina Ventures, Avataar Ventures and Madison India Capital.

Interest income on business and home loans of Rs 2-25 Lakh, 3-10 year tenure.

Processing fee of 1 to 3.5% plus applicable taxes on loans disbursed.

Blended cost of borrowings of ~9.5% (all-inclusive) in FY25 and Q1FY26, funded via a mix of private banks, PSU banks, NBFCs and small finance banks.

Operating expense ratio rose to 7.29% in FY25 (from 6.88% in FY24) as the company hired 819 new employees and opened 93 new branches.