Chaitanya India Fin Credit
Chaitanya India Fin Credit was an Indian NBFC-MFI that extended small-ticket microcredit to underbanked borrowers, primarily in rural and semi-urban areas. Now merged into Svatantra Microfin, it is part of India's second-largest MFI platform serving ~5 million customers across 20 states.
- Company typePrivate
- Founded2009
- HeadquartersBangalore, India
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Chaitanya India Fin Credit does
Chaitanya India Fin Credit Private Limited (CIFCPL) was a Non-Banking Financial Company – Micro Finance Institution (NBFC-MFI) headquartered in Bangalore, India, founded in 2009. The firm extended microcredit to underbanked and income-generating borrower segments typically underserved by traditional banks, operating within the RBI-regulated NBFC-MFI framework that specifies borrower income eligibility, lending caps, and capital adequacy requirements.
The company was originally part of the Navi Group before being acquired by Svatantra Microfin in November 2023 in a transaction that began a multi-stage integration. This culminated in March 2026 when the National Company Law Tribunal approved a formal three-way merger of Svatantra Microfin, Chaitanya India Fin Credit, and Svatantra Holding. Post-merger, Chaitanya no longer operates as a standalone entity; its operations, branches, and customer book have been absorbed into Svatantra Microfin, which now operates as India's second-largest NBFC-MFI with approximately Rs 22,000 crore in Assets Under Management, 2,200 branches across 20 Indian states, and a customer base of roughly 5 million borrowers.
The revenue model was characteristic of Indian microfinance: interest income on small-ticket, typically group-liability or joint-liability loans to women borrowers in rural and semi-urban geographies, with funding sourced from a mix of bank borrowings, NBFC lines, and capital markets instruments. A 2018 funding round featured Northern Arc, a domestic debt capital provider to the financial inclusion sector. Detailed product pricing, ticket-size structure, yield, and portfolio-at-risk metrics for the standalone entity are not disclosed in the available data.
Chaitanya India Fin Credit firmographics
Firmographics- Name
- Chaitanya India Fin Credit
- Legal name
- Chaitanya India Fin Credit Private Limited
- Website
- https://chaitanyaindia.in
- Company type
- Private
- Founded year
- 2009
- Operating status
- Acquired
- Headcount range
- 5,001–10,000 employees
- Short description
- Chaitanya India Fin Credit was an Indian NBFC-MFI that extended small-ticket microcredit to underbanked borrowers, primarily in rural and semi-urban areas. Now merged into Svatantra Microfin, it is part of India's second-largest MFI platform serving ~5 million customers across 20 states.
- Ownership category
- akta.pro rank
Chaitanya India Fin Credit industry classification
Industry- Product category
- Microfinance Services
- NAICS
- Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)
- SIC
- Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)
- akta.pro primary industry
- Microenterprise Group Lending (Joint Liability) (FSAKAGAH)
Keywords
Where Chaitanya India Fin Credit is headquartered
LocationHeadquarters
- HQ city
- Bangalore
- HQ country
- India
- HQ region
- Asia
Markets served
Chaitanya India Fin Credit business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure
Chaitanya India Fin Credit product offering
Product offeringCore offering
Chaitanya India Fin Credit Private Limited (CIFCPL) is an Indian Non-Banking Financial Company – Micro Finance Institution (NBFC-MFI) that provides small-ticket credit and microfinance loans to underserved and low-income borrowers, primarily in rural and semi-urban areas. Following acquisition by Svatantra Microfin in November 2023 and NCLT-approved merger in March 2026, it now operates as part of Svatantra Microfin, the combined entity managing approximately Rs 22,000 crore in Assets Under Management across 2,200 branches in 20 states serving around 5 million customers.
Product overview
Chaitanya India Fin Credit was a microfinance NBFC (Non-Banking Financial Company - Micro Finance Institution) operating in India. It was acquired by Svatantra Microfin in November 2023 through a multi-stage integration process, with the merger receiving National Company Law Tribunal approval. Following the acquisition, Chaitanya India Fin Credit ceased to operate as an independent entity and became part of Svatantra Microfin's combined operations, which manage approximately Rs 22,000 crore in Assets Under Management. No standalone product portfolio or service offerings for Chaitanya India Fin Credit are available in the source data.
Differentiator
Problem solved
Functional benefit
Products and services
- Microfinance Loan Products
Companies that use Chaitanya India Fin Credit
Customer profileIdeal customer profiles1 record
Chaitanya India Fin Credit technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Chaitanya India Fin Credit partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Svatantra MicrofincoreSvatantra Microfin completed its merger with Chaitanya India Fin Credit and Svatantra Holding after receiving approval from the National Company Law Tribunal. The combined entity became India's second-largest NBFC-MFI. This transaction marked the culmination of a multi-stage integration process that began with Svatantra's acquisition of CIFCPL from the Navi Group in November 2023.
Scale indicators3 records
Recent moves3 records
Expansion highlights3 records
Chaitanya India Fin Credit competitors and assessment
Company assessmentDirect peers
- Asirvad Microfinance: Chennai-based NBFC-MFI offering microfinance loans and allied financial services to underserved segments. A direct peer in product offering and target customer base.
- CreditAccess Grameen: India's largest NBFC-MFI by AUM, providing microfinance loans primarily to women in rural and semi-urban areas. Closely comparable to Chaitanya/Svatantra in business model, customer segment, and geographic focus.
- Fusion Microfinance: NBFC-MFI providing microcredit to women borrowers in rural India. Comparable scale and operating model to the Chaitanya/Svatantra combined entity.
- Spandana Sphoorty Financial: Listed Indian NBFC-MFI offering joint liability group loans to low-income women. Direct competitor in the microfinance segment with similar loan products and customer profiles.
- Svatantra Microfin: Direct parent and merger partner of Chaitanya India Fin Credit. A leading NBFC-MFI with a similar focus on financial inclusion and microenterprise lending, now operating as the combined entity.
- Satin Creditcare Network: Listed Indian microfinance institution providing group and individual loans to underserved women. Direct competitor in the NBFC-MFI space with comparable product offerings.
- Muthoot Microfin: Part of the Muthoot Group, this NBFC-MFI provides microcredit to women entrepreneurs in India. Operates in the same regulatory and product category as Chaitanya.
Broad incumbents
- Jana Small Finance Bank: Small Finance Bank focused on financial inclusion with a strong microfinance heritage. Operates in the same underbanked segment as Chaitanya but with broader banking licenses.
- Bandhan Bank: Universal bank that originated as a microfinance institution and continues to serve the same underbanked segment. Broader product portfolio but overlapping target market with Chaitanya.
- Ujjivan Small Finance Bank: Small Finance Bank with roots in microfinance, serving micro-borrowers and small businesses. Comparable customer segment but with deposit-taking capabilities and broader product range.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Chaitanya India Fin Credit financial estimates
Financial estimateRevenue estimate
Valuation estimate
Chaitanya India Fin Credit leadership team
Management profileNumber of profiles
Chaitanya India Fin Credit funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Chaitanya India Fin Credit 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 Chaitanya India Fin Credit
What does Chaitanya India Fin Credit do?
Chaitanya India Fin Credit Private Limited (CIFCPL) is an Indian Non-Banking Financial Company – Micro Finance Institution (NBFC-MFI) that provides small-ticket credit and microfinance loans to underserved and low-income borrowers, primarily in rural and semi-urban areas. Following acquisition by Svatantra Microfin in November 2023 and NCLT-approved merger in March 2026, it now operates as part of Svatantra Microfin, the combined entity managing approximately Rs 22,000 crore in Assets Under Management across 2,200 branches in 20 states serving around 5 million customers.
When was Chaitanya India Fin Credit founded?
Chaitanya India Fin Credit was founded in 2009. It employs 5,001 to 10,000 people.
Where is Chaitanya India Fin Credit based?
Chaitanya India Fin Credit is headquartered in Bangalore, India, in the Asia region.
Who are Chaitanya India Fin Credit's main competitors?
Direct peers on record are Asirvad Microfinance, CreditAccess Grameen, Fusion Microfinance, Spandana Sphoorty Financial, Svatantra Microfin, Satin Creditcare Network and Muthoot Microfin. Broad incumbents are Jana Small Finance Bank, Bandhan Bank and Ujjivan Small Finance Bank.
Does Chaitanya India Fin Credit have an API?
No public API is recorded for Chaitanya India Fin Credit.
What industry is Chaitanya India Fin Credit in?
Chaitanya India Fin Credit's product category is Microfinance Services. Its primary akta.pro industry code is FSAKAGAH, Microenterprise Group Lending (Joint Liability). Its NAICS code is 5222 and its SIC code is 6153.