Fincare Business Services Private Limited is a Core Investment Company managing a clutch of businesses operating in base of pyramid financial services sector in India, with assets of over Rs.1800 Cr as on Dec’16. The company has equity investment from Truenorth, a premier private equity fund in India along with the Indian promoters. Fincare was formed in Sep-2014, to consolidate the base of pyramid financial services and distribution (BOP-FSD) platform under one umbrella.
The journey of the platform began with equity investment by Truenorth in the year 2010 with acquisition of stake in two NBFC-MFIs viz. Disha Microfin Pvt Ltd (Disha) based in West India and Future Financial Servicess Private Limited (FFSPL) (“Formerly Known as Future Financial Servicess Limited”) operating in South India. Truenorth also created a central management company, India Finserve Advisors Pvt Ltd (IFAPL) as an advisory and management services arm for its investee companies. Along the way, a fourth entity came into existence viz. Lok Management Service Pvt Ltd (Lok) in 2012, established as a Business Correspondent to Banks, helping in furthering their financial inclusion agenda through microfinance products & services.
In a span of less than 5 years, the base of pyramid financial services and distribution platform of Truenorth, comprising of Disha, FFSPL, Lok and IFAPL acquired scale and stature rapidly necessitating the need to consolidate the business under a holding company to sustain the organic and exponential growth envisaged for the platform. To this end, the business interests of Truenorth in the platform got merged under the holding company Fincare Business Services Pvt Ltd in Sep-2014 with Corporate Office at Bangalore, Karnataka.
The umbrella holding company Fincare comprises the following businesses: