Private debt funds managed by Swiss impact investor responsAbility Investments invested in Satya MicroCapital Limited in the form of Non-Convertible Debentures (NCDs) worth Rs 28.50 crores for a duration of four years, with a call option at the end of two years.

This is the second investment by the company within a period of one year. This will be utilised by Satya MicroCapital for lending to Indian micro, small & medium enterprises (MSMEs).

“We have 3,00,000 clients in more than 10,000 villages of 100 districts in over 15 states across the country. We have a portfolio of around Rs 750 crore in its two and half years operational journey. This foreign debt fund of Rs 28.5 crore raised will help us scale up our operational base to new territories while continuing to develop innovative credit offerings and ensuring complete end-to-end digitally controlled business processes being deployed,” said Vivek Tiwari, Managing Director & Chief Executive Officer, Satya MicroCapital Ltd, in a statement.

Satya started its journey by offering collateral-free credit to micro enterprenuers amid the unbanked and underserved population in the rural and semi-urban areas, through strong multi-tier credit appraisal process under Limited Liability Group (LLG), especially amongst the women clientele and extended new loan products like Consumer Durable Loans (CDL), Individual Micro Loans (IML) and Emergency Loans (EL).

Satya has recently become the first Micro Finance Institution to collect Rs 100 crore through digital repayment collections.





READ SOURCE

READ  Automakers boost Takata air bag recall completion rates

WHAT YOUR THOUGHTS

Please enter your comment!
Please enter your name here