Prayas
Prayas Financial Services Private Limited is an RBI-registered NBFC-Microfinance Institution providing group-lending microfinance loans to women micro-entrepreneurs across five Indian states, using a proprietary automated credit decisioning platform and a branch-led distribution model.
- Company typePrivate
- Founded2017
- HeadquartersHaryana, India
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Prayas does
Prayas Financial Services Private Limited (PFSPL) is an RBI-registered Non-Banking Financial Company – Microfinance Institution incorporated on March 3, 2017 and operational since February 6, 2020. It is a wholly owned subsidiary of Ananya Finance for Inclusive Growth Pvt Ltd, which is in turn backed by Japan-based impact investor Gojo & Company Inc. The company provides microfinance loans — priced at a flat 28% p.a. ROI on a reducing balance method — to women in low-income households and micro-entrepreneurs in small towns and villages across Gujarat, Rajasthan, Madhya Pradesh, Bihar, and Uttar Pradesh. Loans target income-generating activities such as small retail (kirana stores, tea stalls), service enterprises (beauty parlours, welding and repair workshops), fruit and vegetable vending, and agricultural / allied ventures; credit life insurance is bundled with loans. The revenue model is straightforward interest income on the loan book plus ancillary insurance distribution economics, with distribution via a physical branch network using Joint Liability Group (JLG) lending methodology.
Prayas firmographics
Firmographics- Name
- Prayas
- Legal name
- Prayas Financial Services Private Limited
- Website
- https://prayasfinance.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Prayas Financial Services Private Limited is an RBI-registered NBFC-Microfinance Institution providing group-lending microfinance loans to women micro-entrepreneurs across five Indian states, using a proprietary automated credit decisioning platform and a branch-led distribution model.
- Ownership category
- akta.pro rank
Prayas industry classification
Industry- Product category
- Microfinance
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Microloans & Working Capital Loans (FSAKAGAA)
- akta.pro secondary industries
- Microenterprise Group Lending (Joint Liability) (FSAKAGAH), Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM), SME Credit Underwriting, Scoring & Risk Analytics (FSAKAGAL)
Keywords
Where Prayas is headquartered
LocationHeadquarters
- HQ city
- Haryana
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Prayas business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Microfinance Lending: Prayas Financial Services generates revenue through interest income on microfinance loans provided to low-income households and micro-entrepreneurs. Loans are priced at 28% p.a. ROI on reducing balance method. The company focuses on women borrowers for income-generating activities such as small retail, service enterprises (tea stalls, grocery shops, beauty parlours, welding units, repair workshops, fruit and vegetable vending), and agricultural ventures. Credit life insurance is bundled with loans.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Microfinance Loans - 28% ROI |
Go-to-market motion1 record
Distribution channels1 record
Prayas product offering
Product offeringCore offering
Prayas Financial Services Private Limited operates as a Non-Banking Financial Company – Microfinance Institution (NBFC-MFI) registered with the Reserve Bank of India, providing microfinance loans to women in low-income households and micro-entrepreneurs in small towns and villages. The company funds income-generating activities such as small retail (kirana stores, tea stalls), service enterprises (beauty parlours, welding units, repair workshops), fruit and vegetable vending, and agricultural ventures, with credit life insurance bundled with every loan. Operations are supported by a fully automated in-house technology stack and Aadhaar–Bank Account–UPI digital integration.
Product overview
Prayas Financial Services Private Limited operates as an NBFC-Microfinance Institution offering a single core product: microfinance loans targeting financially underserved households and informal micro-enterprises. The company provides loans for income-generating activities to women and microfinance graduates in small towns and villages across Gujarat, Rajasthan, Madhya Pradesh, Bihar, and Uttar Pradesh. The company bundles credit life insurance with its loans to provide financial protection, and all operations are supported by a fully automated end-to-end technology stack with an in-house Business Rule Engine for credit decisioning.
Differentiator
Problem solved
Functional benefit
Products and services
- Microfinance Loans Microfinance lending services targeting financially underserved women in low-income households and informal micro-enterprises, providing loans for income-generating activities such as small retail (tea stalls, grocery shops), service enterprises (beauty parlours, welding units, repair workshops), fruit and vegetable vending, and agricultural ventures, distributed through a group-based JLG (Joint Liability Group) lending model.
Companies that use Prayas
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles1 record
Prayas technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
Feature2 records
Prayas partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Ananya Finance for Inclusive Growth Pvt LtdcorePrayas Financial Services is a wholly owned subsidiary of Ananya Finance for Inclusive Growth Pvt Ltd (Ananya), a reputed NBFC with over a decade of experience in advancing financial inclusion. PFSPL continues to advance Ananya's developmental mission of uplifting low-income populations through this subsidiary relationship.
- Gojo & Company Inc.coreGojo & Company Inc. is a parent company of Ananya Finance. Board members including Mr. Guerol M Sari (COO) and Mr. Sanjay Gandhi (Co-founder and CIO) serve on PFSPL's board. The relationship connects Prayas to Gojo's network across Europe, Africa, and South Asia with over 3 decades of experience in retail banking, SME, and digitization.
- Niva BupaminorInsurance partner providing health insurance products bundled with Prayas financial services.
- Insurance DekhominorInsurance partner providing insurance products through Prayas Financial Services.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
Prayas competitors and assessment
Company assessmentDirect peers
- Fusion Microfinance: Mid-sized NBFC-MFI offering JLG microfinance loans to women micro-entrepreneurs across underbanked Indian states. Closely comparable to Prayas in target segment, JLG methodology, and multi-state northern/western India footprint; recently listed and at similar operational stage.
- Svatantra Microfin: Indian NBFC-MFI focused on women micro-entrepreneurs using group lending methodology across rural and semi-urban India. Highly comparable mission, product, and borrower profile to Prayas.
- Muthoot Microfin: Indian NBFC-MFI providing JLG loans to women in low-income households for income-generating activities. Directly comparable product/segment; backed by the larger Muthoot Group giving it access to broader capital and brand recognition.
- Asirvad Microfinance: NBFC-MFI with a similar JLG-based lending model targeting women micro-entrepreneurs in underserved Indian markets. Comparable in product, methodology, and borrower segment; operates at a meaningfully larger scale with similar multi-state presence.
- Ananya Finance for Inclusive Growth: Parent NBFC of Prayas, providing financial inclusion loans to underserved MSMEs and low-income households in India. Most directly comparable peer given shared ownership, board, and inclusive-finance mission; operates at a larger, more mature scale than its subsidiary PFSPL.
Broad incumbents
- Satin Creditcare Network: Listed Indian NBFC-MFI providing group and individual microfinance loans to under-served women borrowers. Comparable product set and customer profile; significantly larger with diversified MSME and microfinance arms.
- CreditAccess Grameen: One of India's largest NBFC-MFIs by AUM, focused on JLG lending to women in rural and semi-urban households. Directly comparable to Prayas on product, customer segment, and group-lending methodology, though significantly larger in scale and public-market listed.
- Spandana Sphoorty Financial: Large listed Indian NBFC-MFI providing JLG-based microfinance loans to low-income women. Comparable on customer segment and product; operates at materially larger scale with multi-state presence similar to Prayas's geographic approach.
- Bandhan Bank: Universal bank originating from Bandhan's microfinance operations, serving micro-borrowers and small enterprises across India. Comparable heritage and customer segment; substantially larger, with full banking license and deposit franchise.
- Ujjivan Small Finance Bank: Small Finance Bank evolved from Ujjivan Financial Services, serving underbanked and microfinance-migrated customers with deposits, loans, and insurance. Comparable customer base to Prayas; offers broader banking products and significantly larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Prayas social profiles
Digital presencePrayas financial estimates
Financial estimateRevenue estimate
Valuation estimate
Prayas leadership team
Management profileNumber of profiles
Profiles6 records
Prayas funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Prayas M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Prayas
What does Prayas do?
Prayas Financial Services Private Limited operates as a Non-Banking Financial Company – Microfinance Institution (NBFC-MFI) registered with the Reserve Bank of India, providing microfinance loans to women in low-income households and micro-entrepreneurs in small towns and villages. The company funds income-generating activities such as small retail (kirana stores, tea stalls), service enterprises (beauty parlours, welding units, repair workshops), fruit and vegetable vending, and agricultural ventures, with credit life insurance bundled with every loan. Operations are supported by a fully automated in-house technology stack and Aadhaar–Bank Account–UPI digital integration.
Is Prayas a public or private company?
Prayas is a private company. It is classified as corporate owned and is currently operating.
When was Prayas founded?
Prayas was founded in 2017. It employs 51 to 100 people.
Where is Prayas based?
Prayas is headquartered in Haryana, India, in the Asia region.
How does Prayas make money?
One revenue line is on record: microfinance Lending.
Who are Prayas's main competitors?
Direct peers on record are Fusion Microfinance, Svatantra Microfin, Muthoot Microfin, Asirvad Microfinance and Ananya Finance for Inclusive Growth. Broad incumbents are Satin Creditcare Network, CreditAccess Grameen, Spandana Sphoorty Financial, Bandhan Bank and Ujjivan Small Finance Bank.
Does Prayas have an API?
No public API is recorded for Prayas.
What industry is Prayas in?
Prayas's product category is Microfinance. Its primary akta.pro industry code is FSAKAGAA, Microloans & Working Capital Loans, with a secondary code of FSAKAGAH, Microenterprise Group Lending (Joint Liability). Its NAICS code is 522 and its SIC code is 6153.