Money & Banking

Satya MicroCapital raises Rs 28.5 crore through NCDs

Our Bureau Mumbai | Updated on September 03, 2019 Published on September 03, 2019

Representative image

Satya MicroCapital is an NBFC-MFI that offers collateral-free credit to micro enterprises

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.

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Published on September 03, 2019
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