Biography of Utpal Isser: Co-founder and CEO of SarvaGram- Entrepreneur
Biography of Utpal Isser:
Utpal Isser, a visionary in rural finance, has dedicated
over 20 years to understanding and improving the lives of rural Indians. His
journey began at the Institute of Rural Management Anand (IRMA), where he
developed a deep appreciation for rural economics and society. This foundation
guided his extensive career, particularly during his 18 years at ICICI Bank. At
ICICI, he played a pivotal role in designing and scaling financial products
tailored for rural communities, such as farmers and small enterprises, through
a variety of channels including microfinance institutions and self-help groups.
The Genesis of SarvaGram
The concept for SarvaGram emerged from the influential words
of Dr. Verghese Kurien: “India’s place in the Sun would come from the
partnership between wisdom of its rural people and the skill of its
professionals.” Utpal Isser, inspired by this vision, co-founded SarvaGram in
November 2018, alongside Sameer Mishra. This Mumbai-based fintech company aims
to bridge the gap between rural wisdom and professional skills, transforming
rural livelihoods through innovative financial services and farm mechanization.
A Unique Approach to Lending
SarvaGram distinguishes itself with a household-centric
model of lending, which views the entire household as an economic unit rather
than assessing individual income alone. This holistic approach allows SarvaGram
to provide more comprehensive and inclusive financial solutions to rural
households. Since its launch, the company has catered to over 20,000 customers
across three main segments: farming, micro, small, and medium enterprises (MSMEs),
and salaried individuals.
Scaling Farm Mechanization and Loans
SarvaGram’s primary services include farm mechanization and
a range of loan options. These loans cover various needs such as housing, gold,
consumer durables, personal expenses, and agricultural inputs. The company
offers loans ranging from ₹1 lakh to ₹25 lakh, with some smaller loans for gold
and consumer goods. Out of their customer base, 10,000 use their loan services,
while another 10,000 benefit from their farm mechanization services.
Rapid Growth and Expansion
In its early days, SarvaGram took a year to secure its first
1,000 customers. However, by 2022, the company’s growth accelerated
significantly, onboarding over 1,000 new customers in just one month. The
company’s financial impact is evident in its loan disbursement figures, which
surged from ₹26.34 crore in the fiscal year 2021 to ₹157 crore by the end of
fiscal 2022. This impressive growth reflects SarvaGram’s increasing reach and
effectiveness in serving rural clients.
Biography of Utpal Isser: Co-founder and CEO of SarvaGram- Entrepreneur /Startup/age/Net worth/Success story of Utpal Isser/Rular finance/SarvaGram
Current Operations and Future Goals
Currently, SarvaGram operates across four
states—Maharashtra, Gujarat, Rajasthan, and Karnataka—with 50 branches. The
company has ambitious plans to expand its presence to 500 branches over the
next five years. Their technology platform ensures efficient processing of loan
applications, from initiation to disbursement, within just seven days.
Additionally, their farm mechanization services are delivered swiftly, often
within a single day.
Empowering Local Agents
SarvaGram’s farm mechanization service, known as SarvaMitra,
operates on a pay-per-use basis. Local franchisees, trained and supported by
SarvaGram, manage these services. By involving local residents as franchisees,
SarvaGram not only provides essential equipment but also builds trust within
the community. This local approach enhances the accessibility and reliability
of their services, fostering a stronger connection with rural customers.
The SarvaGram Advantage
SarvaGram’s unique approach integrates a deep understanding
of rural households with advanced financial and technological solutions. The
company’s focus on the entire household’s economic landscape allows for better
risk assessment and more effective lending. This model, combined with their
robust farm mechanization services, supports the broader goal of improving
rural incomes and quality of life.
Founders with a Purpose
The founders of SarvaGram, Utpal Isser and Sameer Mishra,
bring over 20 years of experience each in rural banking and finance. Their
extensive background equips them with the knowledge and expertise needed to
address the complexities of rural finance. Their combined experience and
dedication to rural development drive SarvaGram’s mission to create meaningful
impact in underserved areas.
Investment and Support
SarvaGram has garnered significant support from investors,
including Elevar Equity, Elevation Capital, and Temasek. This backing
underscores the confidence in SarvaGram’s innovative approach to rural finance
and its potential for growth. The support from these investors helps fuel the
company’s expansion and technological advancements.
Market Competitors
In the competitive landscape, SarvaGram faces competition
from several players, including Fullerton India Credit Company, Lendingkart,
Adani Capital, Manappuram Finance, and Fusion Microfinance. Despite this,
SarvaGram’s distinctive household-centric model and focus on farm mechanization
give it a unique position in the market.
Looking Ahead
As SarvaGram continues to grow, its focus remains on
expanding its branch network, enhancing its technological capabilities, and
deepening its impact on rural communities. The company’s mission to democratize
financial access and improve rural livelihoods remains at the core of its
operations, driving its future plans and strategies.
Timeline of Utpal Isser’s Journey
Early 1990s: Studied at the Institute of Rural Management
Anand (IRMA).
2000-2018: Worked at ICICI Bank, developing rural financial
products.
November 2018: Co-founded SarvaGram with Sameer Mishra.
2018: Launched SarvaGram’s household-centric lending model.
2021: Achieved ₹26.34 crore in loan disbursements.
2022: Loan disbursements increased to ₹157 crore.
2023: Expanded operations to 50 branches in Maharashtra,
Gujarat, Rajasthan, and Karnataka.
2024: Plans to expand to 500 branches and enhance technology
platform.
