Mumbai, Oct. 22 -- Nagpur-based non-banking financial company Berar Finance Ltd has raised Rs.150 crore in a funding round led by Norwegian fund Abler Nordic and First Bridge India Growth Fund, while Amicus Capital Partners took a partial exit, the company said in a statement on Wednesday.

The company is expected to raise another Rs.100 crore in the coming weeks, people in the know said. The details of the valuations are not yet known.

Berar did not immediately respond to Mint's requests for a comment on the final close of the funding round.

The fresh capital will be used to deepen Berar's two-wheeler financing presence and expand its secured MSME loan portfolio, a key focus area of growth for the company. While Amicus was the first in...