Sindhuja Microcredit Raises $14.5M For Rural Financial Inclusion

ENA Sectors 2024-03-29 12:46:24 New Delhi, Mar 29 (KNN) Sindhuja Microcredit, a microfinance provider focused on facilitating rural self-employed women entrepreneurs, secured USD 14.5 million in a Series C funding round, on Thursday. The investment comes from GAWA Capital, a renowned international impact investor, and Oikocredit, a social impact investor. This capital injection will fuel Sindhuja Microcredit's expansion efforts into new geographies and existing ones, as well as support the development of new product lines. Headquartered in Noida and registered with the Reserve Bank of India, Sindhuja Microcredit is an NBFC-MFI (Non-Banking Financial Company-Microfinance Institution) dedicated to meeting the financial and non-financial needs of rural and semi-urban populations. In addition to microfinance services, the company offers business loans to traders, shopkeepers, and farmers for working capital or business expansion purposes. Abhisheka Kumar, Managing Director, and Malkit Singh Didyala, Chief Executive Officer of Sindhuja Microcredit, expressed their pride in securing backing from reputable international impact investors like GAWA Capital and Oikocredit. They stated that the funding reinforces their commitment to making financial services accessible to the financially excluded and MSME entrepreneurs through technology-driven solutions. Agustín Vitórica, Co-Founder of GAWA Capital, commended Sindhuja's focus on supporting rural communities and women borrowers. He expressed confidence in the company's ability to facilitate India's underserved farming community by providing valuable products and services tailored to this segment. Previously, Sindhuja Microcredit raised Series A funding from Carpediem Capital, an early institutional investor during the IL&FS crisis in India's financial sector. The company secured Series B funding during the first phase of the Covid-19 pandemic and a pre-Series C round, both led by Abler Nordic, with participation from Carpediem Capital. (KNN Bureau) 37206 https://knnindia.co.in/news/newsdetails/sectors/sindhuja-microcredit-raises-145m-for-rural-financial-inclusion 2024-03-29 12:46:24 knnindia.co.in Sindhuja Microcredit Raises $14.5M For Rural Financial Inclusion