Northern Arc Capital

Transforming Potential into Possibility

We are a diversified financial services platform that caters to the varied credit requirements of Indian households and businesses. Over the course of the last 14 years, we've created a differentiated play within the Indian retail credit ecosystem, extending our reach across six sectors. Since 2009, when we entered the financial inclusion space, we have facilitated financing of over ₹1.50 trillion impacting over 80.59 million lives across India directly and through our originator and retail lending partners, as of September 30, 2023.

Our differentiated credit underwriting processes and risk models have helped us deliver strong asset quality and risk adjusted returns consistently across business cycles and macro events.

We have built an efficient and scalable business model supported by our proprietary end-to-end integrated technology product portfolio that suits credit needs of multiple sectors. Our in-house technology stack consists of:

Nimbus, a curated debt platform that enables end-to-end processing of debt transactions

nPOS, a co-lending and co-origination technology solution based on application programming interfaces

Nu Score, a customised machine learning based analytical module designed to assist our Originator Partners in the loan underwriting process

AltiFi, an alternative retail debt investment platform

Multi-channel approach to enable access to debt capital

Our three primary channels: Lending, Placements and Fund Management, delivered through our proprietary digital stack, enable streamlined and efficient digital financing solutions, and provide access to credit to the under-served segments of India across our focused sectors.


Our Company is registered with the Reserve Bank of India as a systemically important non-deposit taking non-banking finance company (NBFC). From our balance sheet, we extend financing in the following manner:

Intermediate Retail Lending: We partner with Financial institutions, tech platforms, and Originators to provide services including lending, guaranteeing borrowings and investing in debt securities issued by Originator Partners primarily for the purpose of retail on-lending by them. We finance Originator Partners in a variety of ways depending on their specific needs and enhance their credit portfolios. This comprehensive approach shows our commitment to helping our Originator Partners grow sustainably by providing the necessary financial support and strategic instruments. We have onboarded a cumulative of 306 Originator Partners on our platform over the last 14 years.

Direct to Customer lending: We provide loans to underserved households and businesses through our '‘phygital'’ approach, combining digital platforms with a network of 251 physical branches and 40 select+ Originator Partners, we directly lend to customers in sectors like MSME, MFI, consumer, and vehicle finance. Our subsidiary Pragati focuses on rural financing reaching borrowers in remote areas through our agile lending models, including technology-enabled supply chain financing and secured MSME lending underwriting scorecard and technology, our Direct to Customer Lending ensures a smooth and efficient credit flow to customers in our focus sectors. We had disbursed over 11.23 million Direct to Customers Lending loans, as of September 30, 2023.


Using our technology platform, Nimbus, we connect with a large network of investors, called Investor Partners, interested in investing in underserved sectors in India. We offer various financing options, including structured and syndicate financing products through a variety of debt, credit-enhanced debt and portfolio financing products such as securitisation and direct assignment and syndication of loans, bonds etc, to support our Originator Partners. Additionally, we provide credit enhancement and co-investment as required to achieve the target credit rating and/or provide comfort to our Investor Partners. We believe this sets us apart from other facilitators in the market.


Northern Arc Investment Managers (NAIM), a subsidiary of Northern Arc Capital, operates our fund management channel. NAIM manages debt funds, largely focusing on a subset of Originator Partners and mid-market companies as per fund mandates. In addition to the AIF business, NAIM obtained SEBI registration for Portfolio Management Services (PMS) in August 2021 and launched its first PMS fund in Fiscal 2023. As of September 30, 2023, we have raised over ₹40 billion in investor commitments across 10 AIFs and two PMS funds, with successful exits facilitated for investor partners for four AIFs.


AltiFi is our new age retail investment platform that enables access to alternative investment assets and empower retail investors and small corporates in the debt capital markets. AltiFi opens doors for high net-worth individuals (HNIs), mass affluent individuals, retail investors, and corporates to fixed-income instruments like bonds, debt securities, securitized instruments, and AIF units. Currently, AltiFi offers secondary sales of corporate bonds, public issuances of bonds, and primary issuances of sovereign gold bonds. As of September 30, 2023, AltiFi boasts 26,843 registered users, directly sourced and through distributors, facilitating over ₹3.4 billion in investments. This end-to-end digital platform democratizes debt securities on our balance sheet, providing retail individuals and corporates with investment opportunities.

Our Businesses