January 9

Fusion Microfinance Gets $5.5B USD From Warburg Pincus, Others

Fusion Microfinance Private Limited on Tuesday said it has received Rs 500 crore funding from its existing investors —Warburg Pincus and Creation Investments Capital Management.“The follow-on investment by existing investors will help expand the capital base to support Fusion’s growth plans,” said Narendra Ostawal, managing director, Warburg Pincus.

The fresh round of capital injection will be used to expand its distribution network across the country, integrate technology solutions across key business lines and strengthen the platform to address untapped growth opportunities within the sector.

Fusion Microfinance established in the year 2010 and is one of the youngest players and is among the top 10 pure-play microfinance companies in India with more than 575 branches across 18 states. According to the company, its assets under management grew by 45 per cent in FY19 over the previous year.

Photo courtesy of Peter Haden.

Source: The New Indian Express (link opens in a new window)

financial inclusion, microfinance