Veritas is a fianncial services company focused on meeting the financial needs of the micro, small and medium enterprises (MSME) in India, which has remained largely underserved despite several initiatives.
Veritas Finance started with the primary intention of reaching out to the customers who either have no access or in-adequate access to financial services in the informal sector.
Veritas Finance was founded in November 2015 by Arulmany Duraisamy. The company is headquartered in Chennai, Tamil Nadu, India, with offices across India.
Veritas Finance has grown the loan book to more than 1308 crores, expanded to 201 branches and having over 48,638 customers across various regions. Veritas Finance has been largely working to meet the working capital and business credit requirements of the small businesses in the MSME sector.
Veritas Finance is backed by Norwest Venture Partners, Kedaara Capital, Lok Capital Growth Fund and others. The company raisedd Rs 350 crore ($46M) in a Series E round on Mar 20, 2020. This brings Veritas Finance's total funding to $113.1M to date.