Nagpur-based non-banking financial company (NBFC) Berar Finance Ltd has successfully raised ₹150 crore in a fresh funding round led by Norwegian investment fund Abler Nordic and First Bridge India Growth Fund, the company announced on Wednesday. The round also saw Amicus Capital Partners, Berar’s first institutional investor, partially exiting its stake.

According to sources familiar with the deal, Berar Finance is expected to raise an additional ₹100 crore in the coming weeks, although the valuation details have not yet been disclosed. The company has not responded to media requests for confirmation on the final size of the round.

Strengthening Two-Wheeler and MSME Lending Segments

Berar Finance plans to use the newly raised capital to expand its two-wheeler financing operations and grow its secured MSME loan portfolio, which has become a strategic focus area for the firm’s next phase of growth.

“Our goal is to evolve into a multi-product NBFC with a strong emphasis on growth, profitability, and asset quality,” said Sandeep Jawanjal, Managing Director of Berar Finance.

Founded with a mission to provide affordable and accessible credit solutions, Berar Finance has steadily grown into a key player in the vehicle and MSME lending sector, particularly across semi-urban and rural regions of India.

Institutional Support and Strategic Expansion

While Amicus Capital Partners was the first institutional investor in Berar, the company also counts Maj Invest among its key backers. The entry of Abler Nordic, a Norwegian impact investment fund focused on financial inclusion and sustainable growth, highlights global investor confidence in India’s NBFC sector and Berar’s scalable business model.

Advisory Role

InteQuant Advisors served as the exclusive financial advisor to Berar Finance and its shareholders in this transaction, facilitating the investment process and structuring the deal.

Looking Ahead

With this infusion of capital and potential follow-on funding of ₹100 crore, Berar Finance aims to accelerate its digital transformation, strengthen its asset quality, and broaden its customer base in the fast-growing two-wheeler and MSME financing markets.

Industry experts view this move as a strong signal of continued investor interest in India’s mid-market lending segment, where NBFCs like Berar are playing an increasingly vital role in extending credit access to underserved businesses and individuals.