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

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

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.