Sugmya Finance reaches Rs 300 crore plus AUM milestone, enables loan disbursements worth Rs 465 cr+ in FY 23

Delhi, April 18: Leading non-banking financial company (NBFC), Sugmya Finance Pvt Ltd. has registered 295% growth in FY23 through its aggressive expansion plans. The company’s consolidated Asset Under Management (AUM) has touched Rs 302 crores (own book portfolio of Rs 250 crore and managed book portfolio of Rs 52 crore), as compared to Rs 102 crores registered in 2022.

To mark the milestone, the company held the ‘Annual Sugmya Sangam Utsav’ on April 15, with numerous dignitaries in attendance. It saw the presence of Alok Bansal, Co-founder, of Policybazaar, Manoj Sharma, Deputy CFO, of Policybazaar, and Gaurav Mitra (Kotak Life), among many others.

With 1 lakh plus active loan customers on board, Sugmya has cumulatively disbursed loans worth over Rs 465 crores in FY 2023. This is a 370% increase in the number of loan disbursements in the previous year.

Speaking on the occasion, Vikas Singh, CEO and Co-Founder of Sugmya Finance says, “Over the last 3 years, we have consistently grown to become pioneers in rural financing. We are thankful to our customers, investors, and lending partners who have helped us reach this coveted milestone. Since our inception, we have stayed committed to providing small ticket business loans to entrepreneurs from semi-urban, urban, and rural locations. We continue to meet their credit needs through a diversified range of end-to-end financial products and drive financial inclusion in India. I congratulate the entire team for their efforts.”

In line with its business expansion plans, the tech-enabled NBFC has rapidly increased its footprint and currently has a network of 140 branches. The company has on boarded as many as 41 new lender partners and is associated with leading NBFCs such as Vivriti Capital, Ananya Finance, MAS Financials, and Real Touch Finance to name a few.