$25M boost to help small businesses grow and close the $300B funding gap.
AVANA Companies, a private credit platform with over 23 years of experience in commercial lending, has officially expanded into India after receiving its Non-Banking Financial Company (NBFC) license from the Reserve Bank of India for its wholly owned subsidiary, LendThrive Finance Private Limited. With a new regional office in Pune, AVANA is preparing to launch direct lending operations within the next six months, targeting Micro, Small, and Medium Enterprises (MSMEs)—a sector that forms the backbone of India’s economy. Over the years, AVANA has deployed more than $6.5 billion in loans to 500+ small businesses across the United States, and now the company is bringing this proven model to India.
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For AVANA’s CEO and co-founder, Sundip Patel, this expansion holds both professional and personal significance. “India represents a tremendous opportunity for AVANA to extend our mission of providing capital that fuels entrepreneurship, job creation, and sustainable growth,” Patel explained. “As an entrepreneur with Indian heritage, I’ve seen firsthand how access to capital transforms businesses and communities. This step allows us to bring our relationship-driven lending approach to a country where family businesses and entrepreneurs are at the heart of the economy.”
The move comes at a critical time for India’s MSMEs, which face a funding gap of nearly $300 billion despite being key drivers of economic growth. AVANA’s entry provides not just a new stream of capital but also an opportunity for U.S. partners to diversify into one of the world’s fastest-growing economies. With an initial capitalization of $1.5 million already in place and a planned investment of $25 million over three years, AVANA is positioning itself as a trusted lending partner for Indian entrepreneurs.
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One sector AVANA is especially focused on is hospitality. With India’s hotel industry set to grow at 12% annually through 2030, creating over 500,000 new hotel rooms, the company sees immense opportunity to apply its U.S. expertise in financing hospitality businesses. By deploying capital directly, without intermediaries, AVANA aims to provide faster loan approvals, stronger borrower relationships, and more efficient returns for investors.
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At the heart of this expansion is a belief in the people driving these businesses. “Small business owners are the heartbeat of India’s economy,” Patel said. “We don’t just look at balance sheets we see the faces, the families, and the aspirations behind each business. By combining our tech-enabled lending with an impact-first approach, we hope to give these entrepreneurs the resources to grow and thrive.”
AVANA’s India operations will begin from Pune, with plans to expand into Mumbai, Bangalore, Hyderabad, and New Delhi. The company has already appointed Siddharth Purandare, former head of SME business at Edelweiss Financial Services, as Managing Director for India operations. Over the next 5–7 years, AVANA expects to build a team of around 120 professionals to support its growth and ambitions of reaching $1 billion in business.
With a digital-first lending model supported by local teams for servicing and collections, AVANA is also preparing to expand beyond working capital and hospitality loans into areas like supply chain finance, equipment financing, and import-export funding. This mirrors its success in the U.S., where it has supported minority-owned businesses with over $1 billion in loans and contributed to the creation of more than 5,500 jobs.
For AVANA, this expansion is more than just business growth—it’s about fueling entrepreneurship, strengthening communities, and creating lasting impact across borders.
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