Roundup pf Microfinance Funding in India:
ESAF Raises $2.5mn Funds
Kerala based Microfinance company, ESAF Microfinance and Investments (EMFIL), has raised USD 2.6 M (INR 12 crore) by diluting a minority stake to Dia Vikas Capital, a 100% subsidiary of Opportunity International, Australia.
Based out of Thrissur, Kerala, EMFIL has is currently operational in 5 other states and provides a host of financial services ranging from credit, insurance, money transfer and micro-energy loan.
EMFIL has built a borrower base of over 230,000 borrowers with a network of 90 branches, and has a cumulative disbursement of INR 401 crore. – More
Navchetna Raises Rs. 15 million
Navachetna Microfin Services Limited, one of Karnataka’s upcoming microfinance companies, recently raised INR 15 M from a host of individual investors (IT Professionals) as part of its plan to scale up operations.
At present the company serves over 25,000 members who lack access to formal financial services helping them to start income generating activities such as animal husbandry, livestock rearing, trading, retailing, agricultural production and transportation.- More
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