Sindhuja raises $8.7m from Nordic fund, Carpediem Capital
Sindhuja Microcredit, which provides credit to rural women entrepreneurs, has raised USD 8.7 million series B funding from the Norway-based Nordic Microfinance Initiative and Carpediem Capital.
The microlender had also raised USD 4 million from Carpediem Capital in March 2019 in the series A round, the company said in a statement on Monday.
The two-year-old Sindhuja has provided loans to over 84,000 self-employed rural women across five Indian northern states. It has a loan-book of over Rs 170 crore as of March.
"This funding will be used to scale up operations and provide the much-needed credit to our customers, who are rural women entrepreneurs, whose lives have been badly hit due to the COVID-19 pandemic," the company said.
Launched 11 years ago, the NMI is a reputed intern...