Fintech platform Saswat Finance, focussed on rural India, has raised $2.6 million in its pre-Series A funding round led by early-stage venture capital firm Ankur Capital.

Existing investor Incubate Fund Asia also participated in the funding round, it said in a statement.

Saswat Finance will use the fresh capital to launch new products, strengthen its technology capabilities and boost its operations across Maharashtra, Karnataka and Uttar Pradesh. Part of the capital will also be deployed to upgrade its data and analytics infrastructure.

The fintech company, which was founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee and Ravi Ranjan Chaudhary, focuses on providing financial products for cattle purchase and cattle care, as per its website.

The startup claims to have onboarded more than 6000 customers and facilitated loans over Rs 55 crore. It has partnerships with consumer companies like Amul and Britannia and insurance companies such as Iffco Tokio General Insurance.

Saswat Finance had previously raised seed funding from Seedstars VC, Sparrow VC, and Incubate Fund Asia.

Rural-focussed fintech startups have been getting funding in the past months. 

Earlier in March, Navadhan secured Rs 111 crore as part of its Series A funding round led by National Bank for Agriculture and Rural Development's (NABARD) venture arm NabVentures.