Finova Capital has raised $65 million from Norwest Venture Partners, Maj Invest, and Faering Capital.
The funding will be used to grow its loan book, invest in technology, expand geographically, and its vision of enabling financial inclusion at scale.
Norwest led the round with a $45 million investment.
Finova Capital's customer segments include micro-entrepreneurs and low-skilled professionals who have limited access to lending from formal financing institutions. The loans are tailored keeping in mind the needs of its target segment of small service providers, manufacturers, and retailers.