Religare Finvest

What Religare Finvest does

Religare Finvest Limited is an India-domiciled, RBI-registered Non-Banking Financial Company (NBFC) incorporated in 1995 and headquartered in New Delhi. The company is a wholly-owned subsidiary of Religare Enterprises Limited, a listed Core Investment Company that also controls Religare Broking, Religare Housing Development Finance Corporation and Care Health Insurance. RFL's stated mandate is SME-focused lending, with an active product suite comprising unsecured and secured SME Working Capital Loans (up to INR 40 lakhs unsecured; INR 10 lakhs to INR 300 lakhs secured for educational institutions), Secured SME Business Expansion Loans backed by residential, commercial or industrial property (up to INR 25 crores, tenure up to 10 years) and Short Term Trade Finance (secured up to INR 25 crores, unsecured up to INR 75 lakhs for existing customers, tenors up to 90 days). Home Loans, Personal Loans, Commercial Assets and Capital Market Loans have been discontinued.

The operating model is sales-led and relationship-driven: dedicated relationship managers originate, evaluate business plans, structure products and shepherd applications through sanction and disbursement, supported by a branch network across New Delhi (registered and corporate offices), Noida (backend and customer service), Bangalore, Chennai, Coimbatore and Mumbai. Digital channels — a website with EMI calculator, a 128-bit SSL online payment portal, an SMS shortcode ('LOANS' to 575758) and a service-request form — provide self-service for existing customers. Revenue is generated primarily from interest on the legacy SME loan book (with both floating-rate products such as SME-Mortgages and fixed-rate products such as SME-Unsecured WC priced on a risk-based assessment) and secondarily from commissions on mutual fund distribution under AMFI registration ARN-33764. The website reports 2,800+ active clients, a 95% client satisfaction rate and an 85% loan-cleared rate.

Since January 2018, RFL has been operating under an RBI Corrective Action Plan that prohibits new loan disbursements, mobile app operations and engagement of Lending Service Providers; the customer loyalty programme was also discontinued in 2015. The business is therefore presently in run-off, servicing existing loans and pursuing a board- and management-led turnaround strategy articulated by newly appointed MD & CEO Karthik Srinivasan, who has publicly committed to a phygital, AI-enabled, multi-line micro-SME lending model pending RBI relief. No proprietary technology platform has been disclosed in available source material.

Name

Religare Finvest

Legal name

Religare Finvest Limited

Website

https://religarefinvest.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Religare Finvest Limited is an RBI-registered Indian NBFC focused on SME lending (working capital, business expansion and trade finance), serving 2,800+ SME clients through branches and relationship managers across major Indian cities, and currently operating under an RBI Corrective Action Plan since January 2018 that bars new loan disbursements.

Ownership category

akta.pro rank

Product category

SME Commercial Lending

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Supply Chain Finance (Trade Credit, PO/Inventory Financing) (FSAKAGAE)

akta.pro secondary industry

Merchant Cash Advance (MCA) & Revenue-Based Financing (FSAKAGAD)

Keywords

• SME lending
• Working capital loans
• Business expansion loans
• Trade finance solutions
• Mutual fund distribution

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Loan Interest Income: Primary revenue from interest charged on SME loans including working capital loans, secured business expansion loans, and short-term trade finance. Loans are priced based on risk assessment with both floating and fixed rate options.
2. Mutual Fund Distribution: AMFI-registered mutual fund distributor earning commission from distribution of mutual fund products. Registration ARN-33764, valid till December 18, 2028.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Religare Finvest Limited (RFL) is an RBI-registered Non-Banking Financial Company (NBFC) that provides debt financing solutions to small and medium enterprises (SMEs) in India. Its core offerings include SME Working Capital Loans (secured and unsecured), Secured SME Business Expansion Loans (mortgage-backed), Short Term Trade Finance facilities, Educational Institute Financing, and mutual fund distribution as an AMFI-registered distributor. The company has been under an RBI corrective action plan since January 2018 and is not currently disbursing new loans.

Product overview

Religare Finvest Limited (RFL) is an SME financing-focused Non-Banking Financial Company (NBFC) offering a portfolio of debt products tailored for small and medium enterprises. The core product suite includes SME Working Capital Loans (both unsecured up to ₹40 lakhs and secured for educational institutions), Secured SME Business Expansion Loans (mortgage-backed loans up to ₹25 crores), and Short Term Trade Finance facilities. The company also previously offered Home Loans, Commercial Assets, Personal Loans, and Capital Market Loans which have been discontinued. Supporting self-service tools include an EMI Calculator, Online Payment Portal, and Service Request Form. RFL operates under a corrective action plan by RBI and has been not disbursing new loans since January 2018. The company is listed on BSE and NSE through parent company Religare Enterprises Limited.

Differentiator

Problem solved

Functional benefit

Products and services

• SME Working Capital Loans Working capital financing for SMEs, including unsecured loans up to ₹40 lakhs with tenure up to 36 months and secured loans tailored to educational institutions. Designed to address operational cash flow, inventory purchase, plant and machinery, and general working capital needs of small businesses.
• Secured SME Business Expansion Loans Mortgage-backed loans for SMEs that unlock value from residential, commercial, or industrial property for business expansion or debt consolidation. Loan size up to ₹25 crores with tenure up to 10 years (120 months) and competitive loan-to-value ratios.
• Short Term Trade Finance Short-term financing facility for purchase payables aimed at manufacturers and distributors. Secured facility up to ₹25 crores and unsecured up to ₹75 lakhs for existing customers (₹40 lakhs for new customers), available for up to 90 days with interest charged only on the amount availed.
• Educational Institute Financing Specialized secured working capital financing for educational institutions including trusts, societies, and companies operating schools and colleges. Loan size ranges from ₹10 lakhs to ₹300 lakhs with tenure up to 84 months, requiring 10 years of business vintage (7 years for schools), with repayment flexibility aligned to fee collection patterns.
• Mutual Fund Distribution Distribution of mutual fund products to customers as an AMFI-registered distributor (ARN-33764), generating commission-based revenue. Registered since December 15, 2005 with validity through December 18, 2028.

Quantifiable outcome

• 95% Client satisfaction rate
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Religare Enterprises Limited (Parent/Holding Company)coreOthersReligare Enterprises Limited (REL) is the holding company and Core Investment Company (CIC) registered with RBI. RFL is one of several subsidiaries including Religare Housing Development Finance Corporation Limited, Religare Broking Limited, and Care Health Insurance Limited under the REL umbrella.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Bajaj Finance: One of India's largest NBFCs with a diversified portfolio including SME/commercial lending, consumer finance, and mortgage products. Highly relevant comparison for Religare Finvest's SME working capital and business expansion loan offerings, though operating at vastly greater scale.
• Tata Capital Financial Services: Tata Group NBFC offering SME business loans, working capital loans, supply chain finance and trade finance products. Directly comparable to Religare Finvest's product mix with similar relationship-driven SME distribution.
• Cholamandalam Investment and Finance: Leading Indian NBFC focused on vehicle finance, SME loans, home equity and supply chain finance. Directly comparable to Religare Finvest's SME working capital, business expansion and short-term trade finance products.
• Mahindra & Mahindra Financial Services: NBFC arm of the Mahindra Group serving rural and semi-urban SMEs with vehicle finance, tractor loans and business loans. Comparable SME customer profile and secured lending focus.
• L&T Finance Holdings: Diversified Indian NBFC with rural finance, SME loans, housing finance and infrastructure finance verticals. Comparable SME working capital and business expansion offerings with similar relationship-manager-led model.
• Shriram Finance: Large Indian NBFC serving small business owners and SMEs with secured and unsecured credit. Directly comparable to Religare Finvest's target SME segment and product structure.

Direct peers

• IIFL Finance: Diversified Indian NBFC offering gold loans, home loans, SME loans and personal loans with similar relationship-manager-led distribution model. Comparable customer segments and product mix to Religare Finvest.
• HDB Financial Services: Indian NBFC offering business loans, personal loans, gold loans and asset finance with strong relationship-manager-led SME distribution. Highly comparable to Religare Finvest's product suite and target segment; the new RFL CEO Karthik Srinivasan is a former HDBFS executive.
• Muthoot Capital Services: Mid-sized Indian NBFC focused on used commercial vehicle loans, SME loans and microfinance. Comparable scale and SME customer profile to Religare Finvest.

Others

• Religare Housing Development Finance Corporation: Sibling NBFC under the Religare Group umbrella focused on housing finance. Thematically related as part of the same parent (Religare Enterprises Limited) and shares back-office/corporate infrastructure with Religare Finvest.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ReligareFinvestLTD
• LinkedInlinkedin.com/company/religare-finvest-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Religare Finvest