The funding which involved INR 150 Mn from IFC and INR 62 Mn each from the two existing investors would be taken to expand its network across the country.
The transaction was structured by advisory services firm Intellecap.
In Jan last year the company had raised INR 200 Mn in its fourth round of institutional funding, led by existing investors
The microfinance company, which has an gross loan portfolio of INR 3,450 Mn and a customer base of 3,01,000 had also raised INR 70 Mn from the
Aavishkaar whose MFI portfolio includes
Founded in 2008 by
IFC had disclosed its proposed investment in the company in
IFC's Indian investee companies include,
Seeing the revival from the AP crisis, the last six months have a seen a number of mid-sized micros credit organisations raise fresh rounds of, both, equity and debt funding. In April Aye Finance had raised an undisclosed amount of funding from Contrarian Drishti and
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