Berar Finance Limited has raised ₹150 crore from a Series B fundraise led by Abler Nordic along with the participation from First Bridge India, while Berar Finance’s first institutional investor Amicus Capital made a partial exit.
Chugh Universal Legal advised Berar Finance on this fundraise.
VERTICES PARTNERS represented lead investor Abler Nordic Fund V KS as well as First Bridge India Growth Fund on this fundraise.
The transaction was led by Vinayak Burman (Founder and Managing Partner), Vikrant Anand (Partner) along with a team that included Nishant Singh (Principal Associate), Nishtha Khandelwal (Associate Manager) and Srishti Singh (Associate).
Jerome Merchant + Partners advised Amicus Capital on their partial exit from Berar Finance.
Founded in 1990, Berar Finance Limited is one of the oldest and largest vehicle financing NBFCs in Central and West India with a network of 100+ branches across the states of Maharashtra, Chhattisgarh, Madhya Pradesh, Telangana, Gujarat and Karnataka.
The fresh capital will be used to deepen Berar’s two-wheeler financing presence and expand its secured MSME loan portfolio.
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