Elevar Equity

Elevar Equity, LLC is a private equity and venture capital firm that focuses on early-stage and growth equity investments in emerging markets. Established in 2006 and headquartered in Seattle, Washington, with additional offices in San Francisco, Bangalore, Mauritius, Bogota, and Mexico City, Elevar Equity targets entrepreneurs developing microfinance institutions and firms in sectors such as financial services, education, agriculture, healthcare, and housing. The firm emphasizes investments in Southeast Asia and Latin America, particularly in India, Peru, Brazil, Indonesia, and the Philippines, as well as Central America and Mexico. Elevar's investment strategy aims to support transformative ventures that provide essential products and services to low-income communities, impacting over 25 million underserved customers. The firm takes both minority and majority stakes in its portfolio companies, demonstrating a commitment to long-term growth and scalability. Through its investments, Elevar has catalyzed significant capital into numerous successful enterprises, contributing to the democratization of access to vital resources in targeted regions.

Alia Ali

Vice President- Investments

Paula Arango

Vice President

Nethra Bhat

Vice President

Raghunandan Bokare

Associate

Akshay Chandrasekhar

Vice President

Maya Chorengel

Co-Founder and Managing Director

Rogelio Diaz

Executive Assistant, Investor Relations

Sandeep Farias

Founder and Managing Partner

Ayesha Gopal

Vice President

Shikha Gupta

Investment Director

Alma Gutierrez

Investment Associate

Jyotsna Krishnan

Managing Partner

Matias Lanus

Vice President, Investments

Richa Pandey

Vice President of Marketing and Communications

Amie Patel

Director

Lina Margarita Peña Gomez

Vice President, Investments

Johanna Posada

Managing Director

Vipul Rawal

CIO

Minal Sequeira

Vice President - Finance & Compliance

Shobha Venkataraman

Managing Director, Fund Finance & Administration

Danielle Wainer

Vice President

Past deals in South Asia

StrideOne

Seed Round in 2022
StrideOne provides customized financial services to startups and SMEs.

Indifi Technologies

Series D in 2021
Indifi Technologies Pvt. Ltd. operates an online platform that connects lenders and borrowers to provide loans. The company offers different lifecycle support services for lenders, which include marketing and customer relationship management (CRM), data aggregation, data analysis, on-ground support, loan monitoring, and payment management. It serves clients in e-commerce, travel, hospitality, retail, and trading businesses. The company was incorporated in 2015 and is based in Gurugram, India.

Cloudphysician

Seed Round in 2021
Cloudphysician operates a cloud-based health diagnosis platform focused on monitoring the health of infants in neonatal and emergency wards. By leveraging artificial intelligence, the Internet of Things, and predictive analytics, the platform integrates real-time clinical data from connected devices and bedside observations. It tracks immunization schedules, health metrics, and developmental profiles of newborns up to 12 years old. This comprehensive approach aims to enhance patient outcomes and reduce neonatal mortality rates through early-stage diagnosis of critical diseases. The platform provides hospitals and healthcare providers with improved monitoring capabilities, real-time support, and training to facilitate better healthcare delivery.

Niro

Seed Round in 2021
Niro is embedding personal credit products into leading consumer internet platforms. The fintech startup aims to disrupt the consumer lending ecosystem in the country by democratizing access to convenient and hassle-free embedded credit products for 624 million internet users in India.

Sarvagram

Series B in 2021
SarvaGram Fincare Private Limited provides financial services and allied interventions to individuals and small enterprises in rural and semi-urban India. It offers farmer, housing, personal, and small business loans. The company was founded in 2018 and is based in Mumbai, India.

LEAD

Series C in 2020
LEAD School, founded in 2012 and based in Mumbai, Maharashtra, India, provides educational services aimed at enhancing the learning experience for children through technology. The organization empowers teachers by offering an app that includes detailed lesson plans and audio-visual resources, facilitating a more effective teaching process. Additionally, LEAD School fosters collaboration among teachers, parents, and educational institutions to achieve a common goal of academic excellence. By integrating various educational tools and resources, LEAD School strives to ensure that every child has access to quality education.

Kamatan Farm Tech

Series B in 2020
Kamatan Farm Tech Pvt Ltd engages in building agri supply chains for fresh produce to address the needs of farmers and buyers in India. It assists farmers in the implementation of best practices in producing, harvesting, packaging, and transporting fresh produce; handles the entire range of farm produce sourced directly from farmers and farmer producer organizations; and manages the value chain from farm gate to a buyer’s doorstep. The company was incorporated in 2017 and is based in New Delhi, India.

CreditMantri

Venture Round in 2020
CreditMantri Finserv Private Limited provides individuals with credit score analysis and credit improvement program. It engages in educating consumers about their credit history, as well as leverages the same to improve/enhance their chances for becoming loan/credit card eligible. The company also provides individuals with a plan to improve their credit score and works with them for improving their loan/credit card eligibility. In addition, it helps individuals obtain their CIBIL report and provide them with a credit scan; and conducts analysis and provides them with a credit health report. Further, the company provides services for individuals to find loans/credit cards, improve credit score and history, and reduce their EMI costs. CreditMantri Finserv Private Limited was founded in 2012 and is based in Chennai, India.

Sarvagram

Seed Round in 2020
SarvaGram Fincare Private Limited provides financial services and allied interventions to individuals and small enterprises in rural and semi-urban India. It offers farmer, housing, personal, and small business loans. The company was founded in 2018 and is based in Mumbai, India.

LEAD

Series B in 2019
LEAD School, founded in 2012 and based in Mumbai, Maharashtra, India, provides educational services aimed at enhancing the learning experience for children through technology. The organization empowers teachers by offering an app that includes detailed lesson plans and audio-visual resources, facilitating a more effective teaching process. Additionally, LEAD School fosters collaboration among teachers, parents, and educational institutions to achieve a common goal of academic excellence. By integrating various educational tools and resources, LEAD School strives to ensure that every child has access to quality education.

Indifi Technologies

Series C in 2019
Indifi Technologies Pvt. Ltd. operates an online platform that connects lenders and borrowers to provide loans. The company offers different lifecycle support services for lenders, which include marketing and customer relationship management (CRM), data aggregation, data analysis, on-ground support, loan monitoring, and payment management. It serves clients in e-commerce, travel, hospitality, retail, and trading businesses. The company was incorporated in 2015 and is based in Gurugram, India.

BettrCredit

Seed Round in 2019
Bettr Credit is a values-driven start-up focused on providing accessible financial products to underserved populations. The company offers a modern, mobile-first credit card experience, allowing users to maintain complete control over their card and credit. In addition to credit cards, Bettr Credit provides a range of services including free credit scores, personal loans, overdraft facilities, and mobile insurance. Utilizing machine learning, assisted technology, and data analytics, the platform taps into multiple distribution channels and collaborates with financial influencers and advisors to effectively cross-sell a variety of financial products, helping customers manage their financial journeys more effectively.

Samunnati

Series D in 2019
Samunnati is a provider of financial intermediation, market linkages, and advisory services that are used to enhance the value of all players across the agriculture value chain. The company aims to provide underserved households access to markets through financial intermediation and advisory services by focusing on the key economic drivers of a district. The objective is to aid the enterprises and value chains to operate at a higher level of productivity thereby creating value for all the stakeholders engaged in it. Samunnati was established in 2014 and is headquartered in Chennai, Tamil Nadu.

The Better India

Series A in 2019
The Better India Pvt Ltd. operates an online news platform that focuses on publishing and sharing positive stories about unsung heroes, changemakers, and innovative developments across various sectors, including education, women's empowerment, travel, history, arts, and social development. Founded in 2008 and based in Bengaluru, India, the platform aims to highlight inspirational achievements and the progress made by individuals and communities. It also offers a weekly email newsletter that features a digest of articles covering motivational feats, lesser-known travel destinations, and the spirit of doing good. By showcasing these narratives, The Better India seeks to bring attention to the incremental positive changes occurring within the country.

Kamatan Farm Tech

Seed Round in 2018
Kamatan Farm Tech Pvt Ltd engages in building agri supply chains for fresh produce to address the needs of farmers and buyers in India. It assists farmers in the implementation of best practices in producing, harvesting, packaging, and transporting fresh produce; handles the entire range of farm produce sourced directly from farmers and farmer producer organizations; and manages the value chain from farm gate to a buyer’s doorstep. The company was incorporated in 2017 and is based in New Delhi, India.

Varthana

Series C in 2018
Varthana provides loans and support for affordable private schools. They are a Non-Banking Financial Company (NBFC) headquartered in Bangalore, India.

Shubham

Series D in 2018
Shubham Housing Development Finance Company Private Limited, established in 2010 and based in Gurugram, India, specializes in providing housing finance solutions tailored for families with informal incomes. The company focuses on offering home loans, home improvement loans, and loans against property to customers who often do not qualify for traditional financing options. Shubham aims to empower urban low-income families by employing an interview-based approach to underwriting, which allows for a better understanding of the customer's unique financial circumstances. This method enables the company to offer customized and affordable credit programs that cater to the specific housing needs of individuals and families in urban and semi-urban areas.

Samunnati

Series C in 2018
Samunnati is a provider of financial intermediation, market linkages, and advisory services that are used to enhance the value of all players across the agriculture value chain. The company aims to provide underserved households access to markets through financial intermediation and advisory services by focusing on the key economic drivers of a district. The objective is to aid the enterprises and value chains to operate at a higher level of productivity thereby creating value for all the stakeholders engaged in it. Samunnati was established in 2014 and is headquartered in Chennai, Tamil Nadu.

Kamatan Farm Tech

Seed Round in 2018
Kamatan Farm Tech Pvt Ltd engages in building agri supply chains for fresh produce to address the needs of farmers and buyers in India. It assists farmers in the implementation of best practices in producing, harvesting, packaging, and transporting fresh produce; handles the entire range of farm produce sourced directly from farmers and farmer producer organizations; and manages the value chain from farm gate to a buyer’s doorstep. The company was incorporated in 2017 and is based in New Delhi, India.

LEAD

Series A in 2017
LEAD School, founded in 2012 and based in Mumbai, Maharashtra, India, provides educational services aimed at enhancing the learning experience for children through technology. The organization empowers teachers by offering an app that includes detailed lesson plans and audio-visual resources, facilitating a more effective teaching process. Additionally, LEAD School fosters collaboration among teachers, parents, and educational institutions to achieve a common goal of academic excellence. By integrating various educational tools and resources, LEAD School strives to ensure that every child has access to quality education.

Samunnati

Series B in 2017
Samunnati is a provider of financial intermediation, market linkages, and advisory services that are used to enhance the value of all players across the agriculture value chain. The company aims to provide underserved households access to markets through financial intermediation and advisory services by focusing on the key economic drivers of a district. The objective is to aid the enterprises and value chains to operate at a higher level of productivity thereby creating value for all the stakeholders engaged in it. Samunnati was established in 2014 and is headquartered in Chennai, Tamil Nadu.

CreditMantri

Series B in 2017
CreditMantri Finserv Private Limited provides individuals with credit score analysis and credit improvement program. It engages in educating consumers about their credit history, as well as leverages the same to improve/enhance their chances for becoming loan/credit card eligible. The company also provides individuals with a plan to improve their credit score and works with them for improving their loan/credit card eligibility. In addition, it helps individuals obtain their CIBIL report and provide them with a credit scan; and conducts analysis and provides them with a credit health report. Further, the company provides services for individuals to find loans/credit cards, improve credit score and history, and reduce their EMI costs. CreditMantri Finserv Private Limited was founded in 2012 and is based in Chennai, India.

Indifi Technologies

Series B in 2016
Indifi Technologies Pvt. Ltd. operates an online platform that connects lenders and borrowers to provide loans. The company offers different lifecycle support services for lenders, which include marketing and customer relationship management (CRM), data aggregation, data analysis, on-ground support, loan monitoring, and payment management. It serves clients in e-commerce, travel, hospitality, retail, and trading businesses. The company was incorporated in 2015 and is based in Gurugram, India.

LivLush

Series A in 2016
Agritech startups Sabziwala and LivLush (earlier known as GreenAgTech) have merged the businesses under a new entity Kamatan. The rationale to create the entity was to bring together their strengths in farmer connect and supply-chain technology to ensure better pricing for farmers and to reduce wastage. Kamatan’s focus will be to empower farmers with meaningful price data aimed at significantly improving their income levels. LivLush (formerly GreenAgTech) was working on building efficiency in the supply chain for Fruits & Vegetables in India and bringing value to the supplier, the farmer, and the consumer. The current supply chain has multi-hop intermediary network which compromises the quality of produce reaching the end consumer. Due to the number of intermediaries, a lot of value gets eroded due to pilferage and unnecessary margin seekers in the supply chain. We go direct to the farmer for Fruits and Vegetables including first level aggregators and deliver the produce to B2B customers the HoReCa (Hotels Restaurants Cafes), Organized Retail Chains and Wholesalers. Having built out an efficient supply chain we are now expanding to various geographies across India.

Varthana

Series B in 2016
Varthana provides loans and support for affordable private schools. They are a Non-Banking Financial Company (NBFC) headquartered in Bangalore, India.

SecureNow Insurance Broker

Venture Round in 2016
Secure Now Insurance Broker (P) Ltd is an insurance broking firm that offers fair insurance options to clients. SecureNow is founded by experienced professionals with an excellent track record in the industry. SecureNow works with CEOs, CFOs, and HR Heads to procure employee benefits, property and liability insurance solutions.

Indifi Technologies

Seed Round in 2015
Indifi Technologies Pvt. Ltd. operates an online platform that connects lenders and borrowers to provide loans. The company offers different lifecycle support services for lenders, which include marketing and customer relationship management (CRM), data aggregation, data analysis, on-ground support, loan monitoring, and payment management. It serves clients in e-commerce, travel, hospitality, retail, and trading businesses. The company was incorporated in 2015 and is based in Gurugram, India.

Vistaar

Series D in 2015
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

Samunnati

Series A in 2015
Samunnati is a provider of financial intermediation, market linkages, and advisory services that are used to enhance the value of all players across the agriculture value chain. The company aims to provide underserved households access to markets through financial intermediation and advisory services by focusing on the key economic drivers of a district. The objective is to aid the enterprises and value chains to operate at a higher level of productivity thereby creating value for all the stakeholders engaged in it. Samunnati was established in 2014 and is headquartered in Chennai, Tamil Nadu.

CreditMantri

Series A in 2015
CreditMantri Finserv Private Limited provides individuals with credit score analysis and credit improvement program. It engages in educating consumers about their credit history, as well as leverages the same to improve/enhance their chances for becoming loan/credit card eligible. The company also provides individuals with a plan to improve their credit score and works with them for improving their loan/credit card eligibility. In addition, it helps individuals obtain their CIBIL report and provide them with a credit scan; and conducts analysis and provides them with a credit health report. Further, the company provides services for individuals to find loans/credit cards, improve credit score and history, and reduce their EMI costs. CreditMantri Finserv Private Limited was founded in 2012 and is based in Chennai, India.

Ujjivan

Private Equity Round in 2015
Ujjivan Financial Services Limited, founded in 2005 and headquartered in Bengaluru, India, specializes in providing a comprehensive range of financial services aimed at economically active poor individuals in urban and semi-urban areas. The company offers a variety of products, including micro and rural finance, housing loans, personal and vehicle loans, and loans for micro and small businesses. Additionally, Ujjivan provides group and individual insurance products. Its subsidiary, Ujjivan Small Finance Bank Limited, was established in 2016 and focuses on serving financially unserved and underserved segments through banking products, including savings and current accounts, fixed deposits, and an array of loan offerings such as agricultural, educational, and personal loans. Ujjivan operates a significant network of banking outlets and ATMs, reflecting its commitment to financial inclusion in India.

Samunnati

Seed Round in 2015
Samunnati is a provider of financial intermediation, market linkages, and advisory services that are used to enhance the value of all players across the agriculture value chain. The company aims to provide underserved households access to markets through financial intermediation and advisory services by focusing on the key economic drivers of a district. The objective is to aid the enterprises and value chains to operate at a higher level of productivity thereby creating value for all the stakeholders engaged in it. Samunnati was established in 2014 and is headquartered in Chennai, Tamil Nadu.

Varthana

Series A in 2014
Varthana provides loans and support for affordable private schools. They are a Non-Banking Financial Company (NBFC) headquartered in Bangalore, India.

Shubham

Series C in 2014
Shubham Housing Development Finance Company Private Limited, established in 2010 and based in Gurugram, India, specializes in providing housing finance solutions tailored for families with informal incomes. The company focuses on offering home loans, home improvement loans, and loans against property to customers who often do not qualify for traditional financing options. Shubham aims to empower urban low-income families by employing an interview-based approach to underwriting, which allows for a better understanding of the customer's unique financial circumstances. This method enables the company to offer customized and affordable credit programs that cater to the specific housing needs of individuals and families in urban and semi-urban areas.

Vistaar

Series C in 2014
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

Shubham

Series B in 2012
Shubham Housing Development Finance Company Private Limited, established in 2010 and based in Gurugram, India, specializes in providing housing finance solutions tailored for families with informal incomes. The company focuses on offering home loans, home improvement loans, and loans against property to customers who often do not qualify for traditional financing options. Shubham aims to empower urban low-income families by employing an interview-based approach to underwriting, which allows for a better understanding of the customer's unique financial circumstances. This method enables the company to offer customized and affordable credit programs that cater to the specific housing needs of individuals and families in urban and semi-urban areas.

Vistaar

Series B in 2012
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

Glocal Healthcare

Corporate Round in 2012
Glocal Healthcare is focused on enhancing healthcare delivery through a technology-enabled platform that utilizes apps, digital dispensaries, and hospitals. The company operates a chain of hospitals aimed at providing comprehensive treatment services in rural areas, including outpatient, inpatient, operation theater, emergency, and obstetric care. Glocal's telemedicine solutions, which include 250 IoT-based digital clinics, allow patients to access healthcare services remotely, facilitating quicker treatment initiation and improving the likelihood of successful outcomes. The company offers two applications, hellolyf and hellolyf Dr, available on Google Play, which further enhance accessibility to healthcare services. By leveraging technology, Glocal Healthcare is committed to making healthcare more affordable, accessible, and accountable, particularly in regions where traditional healthcare systems struggle to reach.

Ujjivan

Venture Round in 2012
Ujjivan Financial Services Limited, founded in 2005 and headquartered in Bengaluru, India, specializes in providing a comprehensive range of financial services aimed at economically active poor individuals in urban and semi-urban areas. The company offers a variety of products, including micro and rural finance, housing loans, personal and vehicle loans, and loans for micro and small businesses. Additionally, Ujjivan provides group and individual insurance products. Its subsidiary, Ujjivan Small Finance Bank Limited, was established in 2016 and focuses on serving financially unserved and underserved segments through banking products, including savings and current accounts, fixed deposits, and an array of loan offerings such as agricultural, educational, and personal loans. Ujjivan operates a significant network of banking outlets and ATMs, reflecting its commitment to financial inclusion in India.

Glocal Healthcare

Seed Round in 2011
Glocal Healthcare is focused on enhancing healthcare delivery through a technology-enabled platform that utilizes apps, digital dispensaries, and hospitals. The company operates a chain of hospitals aimed at providing comprehensive treatment services in rural areas, including outpatient, inpatient, operation theater, emergency, and obstetric care. Glocal's telemedicine solutions, which include 250 IoT-based digital clinics, allow patients to access healthcare services remotely, facilitating quicker treatment initiation and improving the likelihood of successful outcomes. The company offers two applications, hellolyf and hellolyf Dr, available on Google Play, which further enhance accessibility to healthcare services. By leveraging technology, Glocal Healthcare is committed to making healthcare more affordable, accessible, and accountable, particularly in regions where traditional healthcare systems struggle to reach.

RBL FinServe Ltd.

Venture Round in 2010
RBL FinServe Ltd. is a financial service provider based in Mumbai, India, that focuses on delivering loans and savings products to low-income households and micro-entrepreneurs. The company offers a range of financial solutions, including loans for micro and small enterprises, basic saving bank deposit accounts, and credit-linked life insurance. By addressing the needs of underserved communities, RBL FinServe aims to empower economically active individuals in urban areas, particularly in cities like Mumbai, which has a significant population of urban poor. Originally established as Swadhaar FinServe Pvt. Ltd. in 2005, the company rebranded to its current name and operates as a subsidiary of RBL Bank Limited. Through its innovative approach to microcredit, RBL FinServe seeks to create a new lending methodology that can be applied to other major cities in India.

Vistaar

Series A in 2010
The idea of Vistaar dawned on the minds of two first generation entrepreneurs, who truly believe in supporting and creating new economic opportunity through providing access to finance, to deserving small business men, to enhance and enrich their lives and the community they live in. The Company targets the missing middle segment, consisting of customers with an annual income of Rs 120000-10,00,000, which is not effectively served by the formal financial system.

Grama Vidiyal Microfinance

Venture Round in 2009
GramaVidiyal Microfinance (Trichy and Chennai) is the largest and fastest growing microfinance institution in Tamil Nadu providing small loans to women without access to formal credit. GramaVidiyal has been dedicated to empowering women of the poorest families socially, economically and politically through networking them into community institutions and through their efficient poverty alleviation and microfinance program.

Ujjivan

Venture Round in 2008
Ujjivan Financial Services Limited, founded in 2005 and headquartered in Bengaluru, India, specializes in providing a comprehensive range of financial services aimed at economically active poor individuals in urban and semi-urban areas. The company offers a variety of products, including micro and rural finance, housing loans, personal and vehicle loans, and loans for micro and small businesses. Additionally, Ujjivan provides group and individual insurance products. Its subsidiary, Ujjivan Small Finance Bank Limited, was established in 2016 and focuses on serving financially unserved and underserved segments through banking products, including savings and current accounts, fixed deposits, and an array of loan offerings such as agricultural, educational, and personal loans. Ujjivan operates a significant network of banking outlets and ATMs, reflecting its commitment to financial inclusion in India.

Madura Microfinance

Venture Round in 2008
Madura is a highly efficient, customer focused microfinance institution that serves economically active, rural women in Tamil Nadu.

Comat Technologies

Series C in 2008
Comat enables access to information based services to citizens in rural India. Established in 1996, their company has successfully merged business profitability with social welfare. Their business model is oriented towards economic development of underserved markets, by providing services like employability training, job creation, financial inclusion and essential Government services. They have attained leadership in their area of business by successfully mapping the needs of India’s rural population and efficiently delivering the same through a network of Rural Business Centers.

MokshaYug Access (MYA)

Venture Round in 2008
MokshaYug Access (MYA) is a supply chain solutions company that builds income-certainty for rural producers through its participation across every component of rural supply chains (e.g., dairy). MYA ensures that rural producers realize an optimum share of the end consumer value through rural-producer yield improvement programs and by building procurement and transportation infrastructure that links producers in rural areas to consumers in urban markets.
Bharat Financial Inclusion Limited, formerly SKS Microfinance Limited, is a non-banking financial company-micro finance institution (NBFC-MFI). The Company is engaged in providing micro finance services to women in the rural areas of India enrolled as members and organized as Joint Liability Groups. In addition to its business of providing micro-credit, the Company uses its distribution channel to provide other financial products and services to the members. Programs in this regard primarily relate to providing of loans to the members for the purchase of mobile handsets, solar lamps, bicycle and sewing machines, among others.