Amicus Capital invests Rs 70 crore in Berar Finance

Mumbai: Berar Finance Limited, a Nagpur based non-banking financial company with focus on two-wheeler financing, has raised Rs.70 crore ($10 mn) from Amicus Capital, a mid-market growth capital fund.

Founded by Maroti G. Jawanjar, Berar currently has a loan book of Rs.460 crore and a network of 61 branches spread across the 6 states of Maharashtra, Chhattisgarh, Madhya Pradesh, Gujarat, Karnataka & Telangana.

Apart from two-wheeler loans, company’s product offering includes used car loans, two-wheeler refinance loans and personal loans.


Amicus Capital, set-up by Sunil Theckath Vasudevan and Mahesh Parasuraman, is currently investing out of its first fund of $88 mn (Rs 625 crore).

Berar is Amicus Capital’s fourth investment from its maiden fund. It had earlier invested in Delhi based online insurance aggregator RenewBuy.com, Mumbai-based kitchen appliances & cookware firm Wonderchef and Punjab based small finance bank, Capital Small Finance Bank.

“ The current round of capital raise will help the company expand its branch network as well as further diversify its product offering," said Sandeep Jawanjal, Co-Founder and Executive Director, Berar Finance.

"We are committed to helping the company to achieve a leadership position as it expands its geographical presence and diversifies its product offerings," said Mahesh Parasuraman, Co-Founder and Partner, Amicus Capital.