Swadhaar FinServe Private Limited (SFPL) is a Non Banking Financial Company (NBFC) that was set up in 2008 with the objective of providing the urban poor increased access to financial services.
Swadhaar began 2013 as a Systemically Important Company after crossing a balance sheet size of Rs. 1000 mn. In March of the same year, Swadhaar’s credit rating was upgraded by CRISIL to mfR “3” on a scale of 1 (highest) to 8 (lowest). Swadhaar is now one of the few MFIs in India having a mfR3 scale. To position for future growth, Swadhaar has also applied to the banking regulator, RBI, for an MFI-NBFC license.
Accion provides capacity building support and technical assistance to Swadhaar through the secondment of the Chief Executive Officer, Chief Financial Officer amd a team of technical assistance providers. Accion holds a 38% stake in Swadhaar and holds two seats on the board.