Shivalik Small Finance Bank has successfully secured $7,000,000 in funding from investors. This significant capital raise marks a key milestone for the institution as it continues to expand its operations within India's financial sector.
As the first Small Finance Bank in India to transition from an Urban Cooperative Bank, Shivalik brings 26 years of experience in offering retail banking products and services. The bank is distinctly technology-focused, powered by the Infosys Finacle Core Banking and Digital Banking Suite. Its cloud-based architecture provides the agility required to manage scale efficiently and drive growth. The bank is fully integrated into modern payment systems, being live on all retail payment platforms including UPI, IMPS, NEFT/RTGS, and is a direct member of the National Financial Switch. Currently, it serves over 6 lakh unique customers through 68 branches and 93 exclusive Business Correspondent Branches across Uttar Pradesh, Uttarakhand, Madhya Pradesh, National Capital Region (NCR), Telangana, and Haryana.
The newly secured capital is intended to bolster Shivalik Small Finance Bank’s strategic growth initiatives. These funds will be prudently deployed to support further expansion of its branch network, enhance its technological infrastructure, and strengthen its service offerings to a wider customer base. This investment is crucial for supporting the bank's mission to deepen financial inclusion and innovate within the Indian banking landscape.
This funding round underscores investor confidence in Shivalik Small Finance Bank’s business model and its potential for continued expansion. The bank plans to leverage this investment to sustain its growth trajectory, further solidifying its position as a technology-driven financial institution committed to serving diverse customer segments across its operational regions.
