Dhanvarsha Finvest Ltd., which lends to the MSME segment, has been renamed as TruCap Finance Ltd., the company said in a statement. While the company will retain the Dhanvarsha brand to provide secured loans to MSME clients, the unsecured loans will be given under the brand name Tru.
The company will be offering gold loans to MSMEs through its offline branch network by the Dhanvarsha brand name, while the evolving credit solutions and MSME business loans would be rebranded under the Tru umbrella to cater to the capital requirements of the small, micro enterprise businesses, it said.
“After piloting multiple models with ecosystem partners, we have arrived at offering affordable and ease-focused financing options through MSME business and gold loans under ₹20 lakh to start and enable the credit journey of millions of customers. In the long term, we hope to grow and address larger credit needs as they develop,” said Rohan Juneja, MD & CEO.
“Through a growing network of 58 branches spanning Maharashtra, Madhya Pradesh, Delhi-NCR, and Goa along with presence in Gujarat, Rajasthan and Uttar Pradesh, Tru is equipped to scale its offerings to micro enterprise businesses and customers,” he said.
“We aspire to bring positive social impact by building lives and livelihoods by assuring our consumers that capital is not difficult but flexible and can be used a positive leverage to grow and create sustainable businesses,” he added.
In the first quarter, the company reported net profit of ₹1.85 crore on total revenues of ₹26 crore. Asset Under Management stood at ₹359 crore, while disbursements stood at ₹162 crore.
