Dhruva Capital Services

What Dhruva Capital Services does

Dhruva Capital Services Ltd. is an RBI-registered non-banking financial company (NBFC) founded in 1994, headquartered in Udaipur, Rajasthan, with a corporate office in Kolkata, and listed on the Bombay Stock Exchange (scrip 531237). The company operates two complementary lines of business. Its traditional book spans business loans (working capital, invoice discounting, lease rental discounting, loan against property, CV/CE loans, construction finance) and individual loans (personal loans, affordable home loans, gold loans, EV/CV loans, and loan against property), distributed through direct channels and the company website. Its digital franchise is anchored by the NeoMoney platform, launched in April 2026 and released on the Google Play Store in June 2026, which offers small-ticket unsecured credit (₹500–₹5,000) with a stated 5-minute processing time, targeting underserved Tier-2 and Tier-3 Indian consumers.

NeoMoney is described as an AI-driven platform providing end-to-end digital loan processing — onboarding, verification, application, approval, disbursement, and repayment management — with payment processing handled through Razorpay/RazorpayX and lending operations partnered with IDFC Bank. The company has announced a 1:1 stock-swap merger with Vector Finance (a microfinance company with ₹390.23 crore AUM, 173 branches across six states, and 43,000 customers) to enter microfinance and expand into eastern and northeastern India; this transaction is pending regulatory, shareholder, creditor, and NCLT approvals.

For FY2026, the company reported revenue of ₹3.11 crore (up 46.01% YoY) and a net profit of ₹1.62 crore, swinging from a ₹1.11 crore loss in FY2025, though Q4 FY2026 was still a ₹0.81 crore net loss. Headcount is 11–50. Management is led by Managing Director Kailash Karnawat. The company projects 50–60% annual growth over the next 4–5 years, targeting 1M+ active users on NeoMoney.

Name

Dhruva Capital Services

Legal name

Dhruva Capital Services Ltd.

Website

https://dhruvacapital.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

Dhruva Capital Services is an RBI-registered, BSE-listed Indian NBFC (founded 1994, Udaipur) offering traditional business and individual loans alongside the NeoMoney AI-driven digital lending platform for small-ticket unsecured credit to underserved Tier-2 and Tier-3 markets.

Ownership category

akta.pro rank

Product category

Non-Banking Financial Services (NBFC Lending)

NAICS

Nondepository Credit Intermediation (5222)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)

akta.pro secondary industry

Microloans & Working Capital Loans (FSAKAGAA)

Keywords

• NBFC lending services
• Digital micro lending
• MSME business loans
• Small-ticket unsecured credit
• Loan against property

Headquarters

HQ city

Udaipur

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Digital Lending - Small Ticket Unsecured Credit: AI-driven digital lending providing small-ticket unsecured credit (₹500-₹5,000) to underserved markets in Tier-2 and Tier-3 cities with rapid 5-minute processing
2. Business Loans: Working capital and expansion finance tailored for MSMEs and growth-stage businesses
3. Loan Against Property: Property-backed loans for individuals and businesses to unlock property value for personal or business needs
4. Gold Loan: Quick liquidity against gold with secure handling and minimal documentation
5. Invoice Discounting: Improve working capital by unlocking funds tied up in unpaid invoices
6. EV/CV Loan: Finance for electric or commercial vehicles with transparent pricing and practical repayment plans
7. Affordable Home Loan: Affordable housing finance with customer-friendly terms for first-time and existing home buyers

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Dhruva Capital Services Ltd. is an RBI-registered NBFC that provides a diversified portfolio of secured and unsecured credit products to individuals and businesses, including business loans, invoice discounting, loan against property, CV/CE and EV loans, affordable home loans, gold loans, and personal loans. The company is also building a digital-first micro-lending offering through its AI-driven NeoMoney platform, which delivers small-ticket unsecured credit (₹500–₹5,000) to underserved customers in Tier-2 and Tier-3 Indian cities via end-to-end digital loan processing.

Product overview

Dhruva Capital Services Ltd. operates as an RBI-registered NBFC offering a diversified lending portfolio through both a traditional product suite and the NeoMoney digital lending platform. The traditional offering includes Business Loans (working capital, invoice discounting, loan against property, CV/CE loans, lease rental discounting, construction finance), Individual Loans (EV/CV loans, loan against property, affordable home loans, gold loans, personal loans), and the NeoMoney AI-driven digital lending platform. NeoMoney provides end-to-end digital loan processing for small-ticket unsecured credit (₹500-₹5,000) with 5-minute processing times, targeting underserved Tier-2 and Tier-3 markets. The company projects 50-60% annual growth over the next 4-5 years with a goal of 1 million+ active users.

Differentiator

Problem solved

Functional benefit

Brands

• NeoMoney: AI-driven digital lending platform offering small-ticket unsecured credit ranging from ₹500 to ₹5,000 with an average processing time of 5 minutes. Provides end-to-end digital loan processing including customer onboarding, verification, loan application, approval, disbursement, and repayment management.

Products and services

• Business Loan Working capital and expansion finance tailored for MSMEs and growth-stage businesses.
• Invoice Discounting Working capital solution that unlocks funds tied up in unpaid invoices for businesses.
• Loan Against Property (Business) Business loans secured against property assets for working capital or expansion needs.
• CV/CE Loan Commercial vehicle and commercial equipment loans for business purposes.
• Lease Rental Discounting Finance product that discounts lease rental income for businesses.
• Construction Finance Finance solutions for construction and real estate development businesses.
• Personal Loan Flexible personal financing for planned and urgent life goals with competitive pricing and fast turnaround for individual borrowers.
• Gold Loan Quick liquidity against gold with secure handling and minimal documentation for individuals.
• Affordable Home Loan Affordable housing finance with customer-friendly terms for first-time and existing home buyers.
• Loan Against Property (Individual) Property-backed loans for individuals to unlock property value for personal or business needs without selling the asset.
• EV/CV Loan Financing for electric or commercial vehicles with transparent pricing and practical repayment plans for individuals.
• NeoMoney Digital Lending Platform AI-driven digital lending platform providing end-to-end digital loan processing including customer onboarding, verification, loan application, approval, disbursement, and repayment management. Offers small-ticket unsecured credit ranging from ₹500 to ₹5,000 with average processing time of 5 minutes for underserved customers.

Quantifiable outcome

• 5-minute average processing time for small-ticket loans
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability3 records

Feature2 records

Partnerships

One partnership is on record.

• Vector FinancecoreStrategic or Co-development Partner · 19 September 2025Dhruva Capital Services Ltd announced strategic merger with microfinance company Vector Finance through a 1:1 share swap ratio. Vector Finance has assets under management of Rs 390.23 crore with operations across six states and 173 branches. The deal aims to expand into underpenetrated eastern and northeastern markets while reducing borrowing costs through combined operations. Pending regulatory, shareholder, creditor, and NCLT approvals.

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Bajaj Finance: India's largest diversified NBFC offering personal, business, gold, home, vehicle, and small-ticket loans across urban and semi-urban markets. Comparable to Dhruva across the full NBFC product suite, though at vastly greater scale and with deeper digital infrastructure.

Direct peers

• Cholamandalam Investment and Finance: Diversified Indian NBFC with vehicle finance, SME/business loans, home loans, and loan-against-property products. Directly comparable to Dhruva's MSME and individual lending portfolio and similar Tier-2/Tier-3 distribution focus.
• Muthoot Finance: Largest gold-loan-focused NBFC in India, also offering microfinance, housing, and vehicle finance. Directly comparable to Dhruva's gold-loan and diversified individual-lending offerings and its small-ticket focus on underserved geographies.
• Manappuram Finance: Indian NBFC combining gold loans with a fast-growing digital lending and microfinance book, including small-ticket credit. Closely comparable to Dhruva's NeoMoney small-ticket digital lending plus gold-loan mix.
• Shriram Finance: Indian NBFC focused on commercial vehicle finance, small business loans, and individual lending to semi-urban and rural borrowers. Comparable to Dhruva's CV/CE loan, MSME, and individual borrower segments serving Tier-2/Tier-3 markets.
• Spandana Sphoorty Financial: Indian microfinance institution serving low-income borrowers in underpenetrated rural and semi-urban markets. Highly comparable to Dhruva's Vector Finance merger ambitions and small-ticket lending focus.
• CreditAccess Grameen: Leading Indian microfinance NBFC focused on rural and semi-urban women borrowers across underpenetrated markets. Comparable to the Vector Finance microfinance book Dhruva is acquiring and to its Tier-2/Tier-3 customer base.
• Five Star Business Finance: Indian NBFC focused on secured small-business loans to MSMEs and self-employed borrowers in Tier-2/Tier-3 markets. Directly comparable to Dhruva's MSME business-loan segment and small-ticket lending profile.
• MAS Financial Services: Indian NBFC offering MSME, two-wheeler, and commercial vehicle loans, plus housing and microfinance products in semi-urban and rural India. Comparable to Dhruva's MSME, vehicle, and individual lending mix targeting Tier-2/Tier-3 borrowers.
• IIFL Samasta Finance: Microfinance arm of IIFL focused on income-generation and small-ticket loans to underserved women borrowers in underpenetrated markets. Comparable to the microfinance book Dhruva will gain via the Vector Finance merger.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/dhruva-capital-services-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

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 Dhruva Capital Services