Money & Banking

Fusion raises ₹500 crore

Our Bureau New Delhi | Updated on January 07, 2020 Published on January 07, 2020

Fusion Microfinance has raised equity capital of ₹500 crore from a new round of funding, led by a Warburg Pincus-affiliate and Creation Investments, both of whom are existing investors in the NBFC-MFI.

While the Warburg Pincus-affiliate has pumped in ₹360 crore, the remaining ₹140 crore has come from Creation Investments.

Devesh Sachdev, CEO and Founder, Fusion Microfinance, said: “The follow-up investment by Warburg Pincus and Creation Investment reflects their faith in Fusion’s ability to harness rural India’s incredible growth story.

Fusion has been among the faster growing companies in the sector over the last few years and is committed to maintaining a steady and sustainable pace at a much larger scale in the next 3 to 5 years. Building forth on a strong operating platform and strategic initiatives, we are well placed to become a valued company in the financial inclusion space.”

Narendra Ostawal, Managing Director, Warburg Pincus, said the follow-on investment by existing investors will help expand the capital base to support Fusion’s growth plans. “We continue to be impressed with the management team and look forward to supporting them in their endeavours.”

This round of investment comes at a time when the company is looking to grow its distribution network across India, integrate technology solutions across key business functions to serve customers better, and further solidify the platform to address untapped growth opportunities within the microfinance sector.

Fusion was established in 2010 and is the youngest company among thest top-10 pure-pay microfinance companies in the country.

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Published on January 07, 2020
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