Veritas Finance Unicorn

Our credit assessment model looks at the borrower holistically. We analyse business cycles, seasonal variations, local market dynamics, and even social factors that traditional credit scoring might miss.

Rural business loans average loan size of about Rs4.7 lakh; affordable home loans average around Rs11.3 lakh; used commercial vehicle loans average loan size of Rs4.5 lakh; working-capital loans average ticket size of Rs1.8 lakh.

Veritas Finance Private Limited (Veritas) is focused on meeting the financial needs of the micro, small and medium enterprises (MSME) in India, which has remained largely underserved despite several initiatives.

Self employed, Small Business segment of the Society.

shopkeepers, artisans, traders or farmers... small business owners, as well as agriculture and construction businesses.

All appraisals, including income assessment and property valuation, are carried out at the branch level by the credit officer, legal, and technical teams.

As on March 31, 2025, Veritas operates in 11 states/UTs across 508 branches (including 117 Service centres).

Veritas has its in-house team covering all facets – business sourcing, credit, technical, legal, collection, and recovery.

The company has introduced a risk-based pricing model, enabling an efficient pricing mechanism.

the company increased its employees and branches from 6,299 and 434 (including 52 service centres) as on March 31, 2024, to 7,796 and 508 branches (including 117 service centres) as on March 31, 2025.

Veritas uses third-party vendor software for its MIS systems, which has been used by public sector undertaking (PSU) banks and leading non-banking finance companies (NBFCs)... This system provides solutions for the business – from loan origination up to NPA management.

ably backed by marquee investors such as Lok Capital, British International Investment (BII), Norwest Venture Partners, Kedaara Capital, Multiples, Evolvence and Avendus FLF.

an investment of INR 1,050 Crore from Multiples Private Equity (“Multiples”) along with its co-investors including International Finance Corporation (IFC).

Product lines listed on the company site: "MSME-Rural loans", "MSME-Urban loans".

Product line listed on the company site: "Home Loans" / Home Construction loans.

Product line listed on the company site: "Used Commercial Vehicle Loans".

The company's resource profile is skewed towards bank borrowings, which stands at 68.23% as on March 31, 2025, against 76.53% as on March 31, 2024.

Despite the expansion of its branch network and employee base, the company managed to reduce its operating expense ratio to 6.94% in FY25 from 7.45% in FY24, led by economies of scale.