UK’s CDC invests 65 crore in Veritas

Founded in 2015, Veritas lends to over 12,000 micro, small and medium-sized enterprise (MSME) customers in rural and semi-urban areas, most of which are outside the formal banking sector. It provides long-term financing for business expansion as well as shorter-term loans for working capital. Veritas currently operates 60 branches and 97 micro centres in TN, Puducherry, Karnataka, WB and Odisha.

Veritas founder and MD, D Arulmany said: “This round of funding will allow us to expand and to also strengthen our technology to achieve higher productivity and bring down the cost of servicing micro-businesses.”