NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, September 12, 2018

By Pramugdha Mamgain

New Delhi-based microfinance company Satya MicroCapital Ltd has raised $4.7 million (Rs 34 crore) from Swiss impact investment manager BlueOrchard Finance Ltd for on-lending to the Indian micro, small, and medium business sector, with a focus on women entrepreneurs, said a statement on Monday.

The funding has been raised equally from two BlueOrchard managed funds — the Microfinance Initiative for Asia (MIFA), a microfinance initiative to exclusively target Asian microfinance institutions, and the Japan ASEAN Women Empowerment Fund (JAWEF).

“The funds raised will enable us to build a stronger capital base and reach more entrepreneurs by offering them finance options for their livelihood and entrepreneurial undertakings. The capital raised will also help us scale up rapidly and develop innovative offerings for a wider segment of customers,” Vivek Tiwari, MD & CEO, Satya MicroCapital Ltd said.