TruCap finance opens 31 new branches in Q1 FY2024
The company fosters talent and creates opportunities for businesses so they can grow confidently.
TruCap Finance Ltd., focused on micro, small, and medium enterprises (MSMEs), has been investing to build a formidable distribution ecosystem by setting up Dhanvarsha branches in a cluster-based approach.
The company opened 31 branches in the first quarter of this fiscal year (operating as brand Dhanvarsha – powered by TRU), including 7 new branches in Rajasthan, marking its entry in the state. This takes the total branch count to 103 branches at the end of the quarter. The company has its presence in the States of Maharashtra, Madhya Pradesh, Gujarat, Goa, Delhi NCR, Punjab, and now Rajasthan.
More than 75 per cent of its branch presence is in tier 2/tier 3/tier towns. TruCap caters to the financing needs of MSMEs. The company's objective is to empower these enterprises by providing them with the necessary financial resources to grow and thrive.
Telangana Assembly election 2023: Will BRS retain its power for a third time? Check latest voting updates, date of counting, results announcement of 119 Assembly seats
ICC T20 World Cup 2024: Uganda creates history, qualifies for T20 World Cup; Namibia in; Zimbabwe exits
Assembly Elections 2023 Exit Polls: Check when and where to view result predictions for Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, Mizoram election
This special fixed deposit (FD) scheme from Central Bank gives you guaranteed return of 7.55%, know how
Gandhar Oil Refinery India makes a strong debut on D-Street, shares list at 76% premium over issue price
The company has disbursed Rs 2.61 billion in the quarter ended June’23 vs Rs 2.37 billion in Mar’23 and Rs 1.64 billion in Jun’22 translating to an AUM in excess of Rs 6.5 billion with over 65,000+ active borrowers. Cumulatively, the company has disbursed Rs 20.8 billion to more than 1,90,000 borrowers over the last five years.
The company adopted a strategic roadmap in August 2021 to prioritize co-lending and BC partnerships with large lenders in Lending as a Service (L-a-a-S) to make the balance sheet capital efficient and more profitable. In L-a-a-S, TruCap has partnered with HDFC Bank, DCB Bank, Central Bank of India, Shivalik Small Finance Bank, and UGRO Capital. The share of loan-book attributed to L-a-a-S Partnerships has risen from 1 per cent in FY’22 to over 30 per cent in June’23.
A pioneering company in India, TruCap Finance Ltd. provides credit solutions to underserved MSME segments for the purpose of building social capital. Through technology and capital, TruCap aims to catalyze MSMEs' growth journeys and create positive social impact. The company fosters talent and creates opportunities for businesses so they can grow confidently. Trust lies at the heart of TruCap's mission, as it strives to make credit accessible for everyone by leveraging technology and capital. With collaboration and a commitment to trust, TruCap aims to create an ecosystem that removes the fear of leverage, enabling entrepreneurs to thrive.