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Berar Finance Limited

Berar, founded in 1990, specializes in 2-wheeler financing, serving over 250,000 clients across central and western India. It is one of the few Non-Bank Finance Companies licensed by the Reserve Bank of India to accept deposits.

Investment rationale

Large underpenetrated market: Formal 2W finance has <50% credit penetration at USD 8bn (growing at 20% YoY). Credit gap for vehicle finance highest in rural and semi-urban areas where Berar has >90% of its operation.

Strong value creation opportunities in supporting the process of streamlining and digitalizing the company’s operations.

Country:  India


Responsible partner: David Paradiso

Fund: Maj Invest Financial Inclusion Fund III K/S


Year of investment


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