IntelleGrow raises Rs 28 cr from Omdiyar Network, Dell

Wednesday, March 5, 2014

MUMBAI: Social sector-focused non-banking lender IntelleGrow today said it has raised Rs 28 crore from Omdiyar Network and the Michael & Susan Dell Foundation.

Omdiyar led this round of investment with Rs 25 crore, while the Dell Foundation, which has been a shareholder since last year, put in Rs 3 crore, the company said in a statement.

“Businesses in their early stages need debt at the right time to sustain and create value and not only just be dependent on equity,” IntelleGrow cheif executive and director Sanjib Jha said.

Source: Economic Times (link opens in a new window)

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impact investing