Vartis Platforms Launches UdhaarSaathi for Small Business Loans

How the platform works

UdhaarSaathi operates as a lending service provider (LSP) and marketplace, routing credit through multiple NBFC partners. Lenders assess applicants using merchants' banking and business transaction data, which is shared with their consent. Vartis does not take credit risk on the loans, and earns fees when repayments are processed through its platforms.

The first version went live in February, and the final version followed a couple of months ago. West India currently accounts for the largest share of customers, followed by the South, East and North. Patel said a detailed regional breakdown should be available by December.

UdhaarSaathi is Vartis' second LSP platform after InstaMoney, launched in 2017, which mainly serves individuals seeking small emergency loans. The new product extends the model to merchants' working capital needs.

IPO preparations and financials

The launch comes as Vartis strengthens governance across its platforms in preparation for a possible IPO. Patel said the company is aiming to be ready over the next 12 to 18 months, not necessarily to list in that window. "There is no timeline as yet," he said. Any offering could be an offer for sale, as Vartis sees no need for primary capital, though a fresh issue could be considered to fund an expansion or business opportunity.

Founded in 2015 by Patel and Dipesh Karki, Vartis also runs the lending technology platform Vartis One. Its net profit rose 183% to ₹96.2 crore in FY26 from ₹34 crore a year earlier, its second straight profitable year after a ₹10.6 crore loss in FY24 following the RBI's crackdown on P2P lending. Operating revenue grew 43% to ₹338 crore, and total revenue reached ₹366.6 crore.