Company Overview

Purple Finance Limited was founded in 1993 and has a three-decade institutional legacy. The company launched MSME retail lending in 2022 and was listed on BSE Limited in 2024. The founders have cumulative experience of 130+ years.

Leadership Structure

Founders:

  • Amitabh Chaturvedi: Founder & Executive Chairman (30+ years experience, BFSI veteran)
  • Rajeev Deoras: Co-Founder & President (37+ years in corporate banking, credit, risk, and private equity)
  • Sabyasachi Rath: Co-Founder, ED & CEO (27+ years across corporate, SME, and retail credit)
  • Souvik Dasgupta: Co-Founder & Deputy CEO (23+ years in secured lending, international payments, and FX management)

Board of Directors:

  • Amitabh Chaturvedi: Founder & Executive Chairman
  • Sabyasachi Rath: Co-Founder, ED & CEO
  • Minal Chaturvedi: Non-Executive Director (25+ years in business development)
  • Amit Sonawala: Non-Executive Director (Ind.) (30 years in corporate law, IICA certified)
  • Sandeep Jindal: Executive Director (25+ years in lending & operations)
  • Sriram Kalyanaraman: Non-Executive Director (Ind.) (36+ years in banking and credit bureaus)
  • Rajan Bhat: Non-Executive Director (Ind.) (50+ years in financial services)
  • Sumeet Sandhu: Non-Executive Director (Ind.) (22+ years in investments & insurance)

Leadership Team:

Includes Rajeev Deoras, Vinay Patel (Head of Operations), Gunjan Mishra Browne (Head of HR), Asim Padhi (Head of Product & Policy), Meghana Lale (CFO), Souvik Dasgupta, Prashant Pandey (CTO), Lalit Semwal (Head of Collections), Amitabh Chaturvedi, and Ruchi Nishar (Company Secretary & Compliance Officer).

Market Context

India's MSME market includes 96% of enterprises with annual revenue under ₹1 Cr and 14 million retail outlets nationwide. The MSME credit gap represents a significant fintech opportunity with credit demand of $289B and unmet credit gap particularly in small cities. The Avendus Report on MSME Lending indicates credit demand will drive equity demand of USD 1.7 Bn with an IRR of 15%.

Business Operations

Geographic Presence: 46 branches across 300 districts in:

  • Gujarat: Ahmedabad, Himmatnagar, Palanpur, Jetpur, Bayad, Rajkot, Botad, Jamnagar
  • Maharashtra: Mumbai HO, Nashik, Kalyan, Yeola, Virar, Sangamner, Bhandara, Wani, Nagpur, Palghar, Gondia, Shrirampur, Hinganghat, Panvel, Umred
  • Madhya Pradesh: Indore, Sanawad, Dewas, Shamgarh, Manasa, Shujalpur, Mandsaur, Jaora, Khandwa
  • Uttar Pradesh: Lucknow, Raebareli, Kanpur, Varanasi, Prayagraj, Hardoi
  • Odisha: Bhubaneswar, Nayagarh, Angul, Panikoili
  • Rajasthan: Jaipur, Sikar, Kotputli
  • Chhattisgarh: Bhilai, Rajnandgaon

Product Offering: Secured MSME loans up to ₹30 Lakh with ROI of 18% to 24%, door-to-door tenor of up to 10 years, flexible repayment schedule, available to first-time borrowers with cash flow-based assessment.

Target Customers: Micro & small enterprises with annual turnover not exceeding ₹5 Cr, sector agnostic (manufacturers, traders, wholesalers, services). Loan purposes include business expansion, asset purchase, construction/renovation, and working capital requirements.

Assessment Methodology:

1. Declared Income Assessment (Financial Statement and ITR)

2. Surrogate Assessment (Bank Balances, Credit into Banks, Value of Installment paid)

3. Liquid Income Assessment (Personal Discussion and Business Assessment)

4. Alternate Lending Assessment (Psychometric Scoring, alternate data sources)

Three Key Execution Pillars

1. Tech-as-an-enabler for lean and agile operations: Clear go/no-go decision in <5 hours, Uberization of customer journey, vernacular customer interface

2. Strong risk & governance for sustainability: High caliber board, AI-based under-writing & early warning process

3. Differentiated market strategy: Single product & focused geography, aspiration to become small finance bank, 360-degree customer engagement

Digital Process

Industry-first soft approval in under 5 hours with complete digital process and three possible outcomes: No GO, GO, or Deviation.

Financial Performance (as of June 2026)

  • Total disbursements since inception: ₹278 Cr
  • Current AUM: ₹150 Cr
  • Active borrowers: 12,700+ (all with women as borrower or co-borrower)
  • Gross NPA: 1.89%
  • First loan disbursed: October 19, 2022
  • Team size: 470+ members nationwide
  • Debt raised: ₹150 Cr

Customer Profile

  • Micro enterprises with turnover up to ₹40 lakh
  • 100% have women as borrower or co-borrower
  • Sector agnostic (trade, manufacturing, services)
  • Primary markets: tier-3 and tier-4 cities
  • First-time or underserved formal credit borrowers

Case Studies

Case Study I: Samir Rambhau Padvale from Palghar received ₹4.95 lakhs business loan in November to expand his Chinese food center and open a kirana store. Monthly income grew from ₹60,000 to ₹90,000.

Case Study II: Devideen Verma, cattle farmer from Lucknow, received ₹9.80 lakhs loan to expand from 9-10 cattle to 43 cattle, resulting in 5X income increase.

Vision and Mission

Purple Finance aspires to grow into a small finance bank serving India's underserved MSME segment at scale. The company aims to drive impact through ESG-led practices, build a trusted future-ready institution, and create long-term value across stakeholders.