Chennai-headquartered NBFC Veritas Finance, focused on lending to MSMEs, on Thursday announced that it has raised `200 crore in a Series D round. The round saw participation from new investor Norwest Venture Partners, along with existing investors like CDC Group, the UK’s Development Finance Institution and P Surendra Pai, an anchor investor.
The firm proposes to use the additional capital to further penetrate into existing markets to augment the capital required by MSMEs for business expansion, working capital and for asset creation backed by transformative technology, robust credit appraisal systems and quality customer service.