New Delhi, July 19 (KNN) Sambandh Finserve Pvt Ltd (SFPL) which was recently awarded with the prestigious Microfinance Organization of the Year 2017 (Small & Medium) at the Inclusive Finance India Summit 2017 has successfully completed its equity infusion of USD 2.5 Million from Base of Pyramid Asia (BOPA).

This additional infusion of capital will help Sambandh in geographic expansion in existing and newer areas.

Further, it will also provide the necessary resources to bring in new technologies in its operation.

Sambandh also stands to benefit from the international technical expertise of BOPA and will utilize the same to diversify its product portfolio and client engagement efforts in order to reinforce the presence in the region.

Speaking on this occasion, Deepak Kindo, MD & CEO of Sambandh said “Partnering with BOPA will help us achieve our long-term goals of building a sustainable financial institution with best global practices in its operations, which will translate into holistic impact at the grassroots.”

Expressing happiness over this development, Christian Andersen, CEO of BOPA, said that we look forward to work with Sambandh to support growing its scale and impact as Sambandh is an impressive regional NBFC-MFI with a strong commitment to social impact.

Earlier in March 2018, SIDBI and Dia Vikas Capital Pvt Ltd, existing institutional investors of Sambandh had reposed their faith by participating in a round of Equity as well.

Sambandh Finserve Private Limited is an Inclusive Livelihood Financial Institution, registered as an NBFC-MFI with RBI, headquartered in Orissa. Sambandh offers a diverse set of financial products and services to the low-income, marginalized and indigenous communities in the Chhotanagpur region of India. It is presently working in 20 districts of Odisha, Chhattisgarh and Jharkhand states.

Base of Pyramid Asia (BOPA) is Singapore-based holding company that invests equity in smaller and early-stage Microfinance Institutions in Asia.