Shivalik Small Finance Bank Raises Rs 100 Crore to Fuel Digital Expansion

Shivalik Small Finance Bank has raised Rs 100 crore in equity capital from investors including Lightspeed, Sorin Investments, Accel, and Quona. The funds will be used to enhance the bank's tech stack, strengthen its team, and further develop products to serve small businesses and underserved segments.

Shivalik Small Finance Bank has successfully raised Rs 100 crore in equity capital, a pivotal investment led by Lightspeed and Sorin Investments, along with existing backers Accel and Quona Capital, the bank announced on Tuesday.

This significant funding influx aims to bolster the bank's technological infrastructure, enhance its team, and refine its product offerings. As a digital-first bank, Shivalik Small Finance Bank is committed to serving small businesses and the underserved sectors, leveraging years of retail banking expertise.

'We are thrilled to welcome such esteemed investors,' said Anshul Swami, Managing Director and CEO. 'This investment will drive our growth, enabling us to reach MSMEs and underserved retail customers with innovative products and services,' he added.