NBFC Light enters Eastern India with Odisha expansion
Light, the Ahmedabad-based non-banking finance company (NBFC), on Friday announced the launch of its operations in Odisha. The finance company plans to establish 25 branches in Phase I and reach overone lakh households.
Light co-founder and CEO, Rakesh Kumar, said “Our fundamental mission is to act as a catalyst for rural aspirations. We have set an ambitious target to serve over 1 lakh households at the earliest. Our mission is to bridge the financial gap for unserved and underserved individuals in remoterural areas, providing them with the financial products and services necessary to nurture their entrepreneurial pursuits”.
Light co-founder and CFO Aviral Saini shared stated “We are dedicated to nurturing a substantial portfolio of Rs 1000 Crore in Odisha alone. This commitment further underscores our resolve to empower and enhance the financial well-being of the ruralentrepreneurs we serve”. Since its inception in 2009 in Ahmedabad, Gujarat, Light has rapidly emerged as a key player in the Indian finance industry, amassing an impressive Assets Under Management (AUM) of Rs 2100 crore. With a customer base exceeding 4.5 lakh individuals and a network of over 200 branches in Northern and Western India.