TruCap Finance Ltd (TRU), an MSME-focused NBFC, has raised Rs 40 crore from responsAbility AG, a sustainable investment fund, by allotting 4,000 secured, listed, rated, and redeemable non-convertible debentures (NCDs)
The funds raised will be used to facilitate access to growth capital for small businesses in MSME hubs, with a particular emphasis on empowering nano-lenders, fostering financial inclusion, and providing working capital to under-served enterprises, the NBFC said.
responsAbility AG, founded in 2003, is a sustainable investment house focussed on climate finance, financial inclusion and sustainable food, to move towards UN Sustainable Development Goals (SDGs).
As of September 2023, TruCap had built an AUM of more than Rs 780 crore, supported by a robust partner ecosystem under its Lending-as-a-Service (LaaS) model, compared to Rs 60 crore in September 2020, the NBFC said.