Shivalik Small Finance Bank has made headlines with a fresh ₹100 crore equity funding. The round was led by SMBC Asia Rising Fund from Japan’s Sumitomo Mitsui Banking Corporation. Key existing investors like Accel, Quona Capital, Lightspeed, and Sorin Investments also played a part.
Driving Technology and Growth
These funds will drive technology upgrades, help expand the workforce in product, engineering, and operations, and scale up Shivalik’s Banking-as-a-Service (BaaS) platform. The aim is clear—bring easy, digital banking solutions to semi-urban and rural India. The bank uses Infosys Finacle’s platform for cloud-native mobile and web banking. This offers customers a seamless experience, whether they’re in the city or a small town.
Digital-First, India-First
Shivalik now serves over 9 lakh customers across 79 branches and 114 outlets in 11 states. With a business size of ₹6,000 crore and annual revenue of ₹423 crore, the bank’s vision is to simplify financial access for MSMEs and retail customers. Its product basket includes savings accounts, fixed deposits, gold loans, overdrafts, digital payments, and insurance partnerships with leaders like LIC, Bajaj Allianz, and Go Digit.
Why MSMEs and Bharat Stand to Gain
India’s MSME sector is massive, but many business owners struggle to get formal credit. Shivalik’s digital-first strategy and BaaS approach target this pain point. By combining banking know-how and technology, Shivalik wants to offer quick, friction-free banking services—even in remote regions. Strategic partnerships with fintech platforms help the bank reach more customers fast and deliver modern financial products.
Leadership Quotes
Anshul Swami, Shivalik’s MD & CEO, says, “Our growth plans have banking-as-a-service as a key pillar—powering innovative products and easy partner integrations. With SMBC as a strategic partner, we’re ready to deliver scalable solutions to MSMEs and retail customers across Bharat.” SMBC representatives echoed this, calling Shivalik’s partner-driven approach a perfect fit for India’s growing digital economy.
Shivalik’s Next Chapter
With stronger capital, Shivalik is poised to accelerate its digital transformation, helping more people and small businesses embrace modern banking. In a space where legacy banks are catching up and fintechs are facing challenges, Shivalik’s blend of reliability and innovation stands out.