Ratan Tata, Nandan Nilekani's Avanti Finance reports narrower loss as revenue rises 2.3X in FY24

Quick Summary:

Set up in 2016 by Tata, Nikelani and prominent economist Vijay Kelkar, Avanti Finance focuses on providing financial products to underserved and marginalised communities.

LendingKart Technologies reported a 36.59% jump in consolidated revenue from operations in the financial year, but its profit declined 97% because of higher expenses.

The company also counts IDH Farmfit Fund and Oikocredit among its investors.

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Article Details

Author / Journalist: Aparajita Saxena

Category: StartupsEconomyBusiness

Markets: India

Topics: Finance Year Crore Revenue Tata Nandan Loss Avanti Rises Ratan Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 06:06:12 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 240 words

Reading Time: 2 minutes read

Sentences: 20 lines

Sentence Length: 12 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 23442883

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