Magma Fincorp Limited ("Magma") is among the leading non-banking finance companies (NBFC) in India that offers a wide range products including financing of utility vehicles & cars, commercial vehicles (used and new), construction equipment, tractors, low cost housing, and small & medium enterprises. It also operates in the general insurance segment through a joint venture. It is well known for its knowledge and understanding of under banked customer segments in rural and semi urban areas of India, and for having built a financial inclusion driven business model based on sound risk management and credit underwriting. Magma serves over 500,000 customers through its network of over 9,500 people and 234 branches spread across more than 20 states.
In 2015, True North decided to partner with Magma in its next phase of growth as it increases its penetration in untapped rural and semi urban markets of India. The True North team will leverage its experience in corporate strategy and operations management to support the company in its long term vision of becoming a world class financial services organization.
Founder :- Sanjay Chamria