Mumbai, May 15 – Private equity firm Norwest has spearheaded a significant Rs 1,465 crore investment round in Hyderabad-based non-banking financial company IKF Finance, marking the largest fundraise in IKF's history.
The round includes both primary and secondary transactions, with Norwest contributing approximately Rs 850 crore (USD 100 million), according to a company statement.
Founded in 1991, IKF Finance offers secured retail loans and credit to small businesses across nine states. The company also provides loans against property and affordable home finance through its dedicated housing finance arm. As of March 2025, IKF’s loan book stood at Rs 6,700 crore.
The latest round also saw participation from existing investor Motilal Oswal Private Equity, along with support from Accion and its limited partners.
“This is our largest fundraise to date and a key milestone in our journey to expand access to inclusive, flexible financial solutions for underserved communities,” said VGK Prasad, Founder and Chairman of IKF Finance.
K Vasumathi Devi, Managing Director, added that the fresh capital will be used to accelerate financing efforts and enhance investments in distribution, technology, and talent.
Commenting on the investment, Norwest India Head Niren Shah said, “Backed by an experienced leadership team, strong governance, and a consistent track record, IKF is well positioned to continue meeting the needs of Indian borrowers.”