Micro-finance company Satya MicroCapital Limited on Monday announced raising of funds worth Rs. 43 crores in its latest equity funding round led by Gojo & Company, Inc.
The company plans to use the funds to expand its presence across existing as well as new geographies and build a diversified loan book.
Gojo & Company, Inc., which is Japan-based holding company of microfinance institutions, marks its first investment in an Indian Micro Finance Institution, having earlier invested in Ananya Finance for Inclusive Growth.
"We are certain that the funds raised will enable us to continue growing and empowering more and more Entrepreneurs from the underserved sections of society," said MD and CEO Satya MicroCapital Ltd., Vivek Tiwari.
"It gives a great pleasure to partner with a young and dynamic microfinance institution like Satya MicroCapital. Gojo was created to promote financial access across the globe and has already made equity investments in MFIs based in Cambodia, Myanmar and Sri Lanka. So, when it came to a highly competitive market like India, we wanted to invest in an NBFC MFI, which had the potential, as well as the required ability to provide financial access to a large client base in the coming years and & we found that partner in Satya," said founder and Chief Investment Officer, Gojo & Company Inc., Sanjay Gandhi.
By leveraging technology innovatively and making modifications to its lending model, Satya MicroCapital offers prompt, convenient, and affordable collateral-free credit to people at the bottom of the economic pyramid with a strong credit assessment system.
Recently, the company crossed a milestone of one lakh active loan clients and cumulative credit disbursements worth Rs. 300 crores.
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