Saggraha Management Services

About Saggraha Management Services

Established in May 2014, Saggraha Management Services Private Limited operates as a financial services provider focused on bolstering economically weaker sections of Indian society. The company was founded by a team of professionals with backgrounds in banking, microfinance, and financial services, including Harish Venkata Raghu, Rahul Kasinadhuni, and Kishore Kumar Anjaneyulu Sompalli. This team's collective experience in functions like operations, risk, finance, and IT within the financial inclusion sector underpins the company's operational model.

Saggraha's core business revolves around a Business Correspondent (BC) model, providing micro-financing solutions primarily to women borrowers in rural and economically backward regions. Its services are structured around Joint Liability Group (JLG) and Self-Help Group (SHG) lending, alongside financing for Micro, Small, and Medium Enterprises (MSMEs). The company's business model is designed to facilitate financial inclusion by offering products such as income generation loans, savings, and insurance. As a BC, Saggraha acts as an intermediary, disbursing microfinance loans for its partner institutions. By March 2024, its Assets Under Management (AUM) as a business correspondent stood at INR 464 crores, with an additional co-lending AUM of INR 546 crores.

The company operates through an extensive physical network, which included 154 branches and over 1,200 field officers as of September 2020, spanning states like Karnataka, Tamil Nadu, Odisha, and Maharashtra. To manage its widespread operations, Saggraha utilizes a robust IT infrastructure, including the eFIMO software for real-time data tracking and an efficient MIS system that enables quick credit bureau checks to reduce loan turnaround times. A significant milestone in the company's history occurred in August 2022, when it was acquired by SAVE Solutions, a rural financial services group. This acquisition was a strategic move for SAVE to deepen its penetration into the South Indian market. Following the acquisition, Saggraha operates as a wholly-owned subsidiary of SAVE Solutions and has received further investment, including a $10 million infusion from private equity investor Incofin Investment Management in May 2024, to expand its loan portfolio.