Saswat Financial Technologies Pvt. Ltd. Finance Raises $2.6M to Expand Rural Fintech for India’s Dairy Economy

Saswat Finance, a Mumbai-based fintech startup focused on rural financial inclusion, has raised $2.6 million (₹22.3 Cr) in a Pre-Series A round led by Ankur Capital, with continued backing from Incubate Fund Asia.

The funds will fuel expansion across Maharashtra, Karnataka, and Uttar Pradesh, strengthen data analytics, and power new financial products for India’s underserved segments.

“India’s rural economy has immense potential but remains underserved by traditional financial services. At Saswat, we bring trust and tech to the doorstep of farmers and smallholders,” said Arun Tiwari, CEO and Co-founder of Saswat Finance.

Why dairy-first matters:

> The Indian dairy market is worth $135B today and is expected to hit $274B by 2032

> Saswat provides cattle loans, insurance, health support, and advisory tools to > rural dairy farmers using non-traditional data like milk yield and location trends

Partnering with major dairy players:

Amul India (Maharashtra), Britannia Industries Limited, Lactalis Group, Hatsun Agro Product Ltd, Schreiber Dynamix Dairies Limited, Nandini, and more

Built by veterans:

Founded in 2022 by banking leaders Arun Tiwari, I J Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat Finance blends domain expertise with technology to create a scalable rural credit infrastructure.

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