Indian Microfinancing Group Raises $5 Million From BlueOrchard
New Delhi based Micro-financing group, Satya MicroCapital raises close to $5 million (Rs. 34 crores) from leading Swiss impact investment manager BlueOrchard Finance Ltd. for on-lending to the Indian micro, small, and medium business sector.
The funding comes equally from two BlueOrchard managed funds, the Microfinance Initiative for Asia (MIFA), which is the first microfinance initiative of its size to exclusively target Asian microfinance institutions, and the Japan ASEAN Women Empowerment Fund (JAWEF), which is the first fund investing with female micro-entrepreneurs in the Southeast Asian frontier and emerging markets.
"Having grown at a considerable rate and expanded our presence across multiple regions in India, we are well on our way to becoming one of the leading microfinance...
