Rural Women-focused firm Sindhuja Microcredit upraises Rs. 120 crore Fund
Rural Women-emphasized New age microfinance firm Sindhuja Microcredit has secured Rs. 120 crore in its Series C Funding round from GAWA Capital through its funding vehicle Huruma Asset & Oikocredit.
Prior to this round, the organization had raised $8.7 million in a Series B Funding round from Norway-based Nordic Microfinance Drive (NMI) & Carpediem Capital in the month of May 2020.
The new funding returns will be utilized to grow the business in its current market position and new geologies as well as new product offerings, the company said in an official statement.
Founded by Abhisheka Kumar and Malkit Singh Didyala in 2018, Sindhuja Microcredit gives microfinance to talented business women & entrepreneurs who faces severe financial limits.
The Noida-based organization additionally gives business credits to dealers, retailers & farmers for operational capital necessities & to develop their organizations.
In approximately like six years of activity, Sindhuja professes to have given miniature credits to more than 400,000 independently employed women-owned small business people across nine states in northern, eastern & western regions of India. The organization as of now works 235 branches with over Rs. 10 billion in AUM.
Expressing on this investment, Agustín Vitórica, Co-Founder, GAWA Capital states, "Sindhuja is focused on supporting people from rural areas and women borrowers, and our collaboration aims to empower India's underserved farming community. We're confident that the company is poised to meet this challenge by providing products and services of value to this segment”.
Similarly, the key management of Sindhuja, Abhisheka Kumar & Malkit Singh Didyala collectively says, "The funding further strengthens our commitment to make financial service easily available to the financially excluded and MSME entrepreneurs through technology-driven solutions”.
Prior to this round, the organization had raised $8.7 million in a Series B Funding round from Norway-based Nordic Microfinance Drive (NMI) & Carpediem Capital in the month of May 2020.
The new funding returns will be utilized to grow the business in its current market position and new geologies as well as new product offerings, the company said in an official statement.
Founded by Abhisheka Kumar and Malkit Singh Didyala in 2018, Sindhuja Microcredit gives microfinance to talented business women & entrepreneurs who faces severe financial limits.
The Noida-based organization additionally gives business credits to dealers, retailers & farmers for operational capital necessities & to develop their organizations.
In approximately like six years of activity, Sindhuja professes to have given miniature credits to more than 400,000 independently employed women-owned small business people across nine states in northern, eastern & western regions of India. The organization as of now works 235 branches with over Rs. 10 billion in AUM.
Expressing on this investment, Agustín Vitórica, Co-Founder, GAWA Capital states, "Sindhuja is focused on supporting people from rural areas and women borrowers, and our collaboration aims to empower India's underserved farming community. We're confident that the company is poised to meet this challenge by providing products and services of value to this segment”.
Similarly, the key management of Sindhuja, Abhisheka Kumar & Malkit Singh Didyala collectively says, "The funding further strengthens our commitment to make financial service easily available to the financially excluded and MSME entrepreneurs through technology-driven solutions”.
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