Comments
Micro finance company, Satya MicroCapital, has raised Rs 28.50 crore from a private debt fund managed by Swiss impact investor responsAbility Investments through Non-Convertible Debentures (NCDs). The funding is for four year with a put option at the end of two years.
Satya MicroCapital will utilise the funding to lend to Indian micro, small & medium enterprises (MSMEs).
“This foreign debt fund will help us scale up our operational base to new territories while continuing to develop further credit offerings and ensuring complete end-to-end digitally controlled business processes being deployed,” said Vivek Tiwari, Managing Director and Chief Executive Officer (CEO) at Satya MicroCapital.
“We have built a strong presence with over 3,00,000 clients in over 10,000 villages of 100 districts in over 15 states across the country having a portfolio of around Rs 750 crore in its two-and-half-years operational journey,” he added.
Satya MicroCapital is an NBFC-MFI that offers collateral-free credit to micro enterprises on the basis of strong credit assessment and a centralised approval system.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.