Sindhuja Microcredit Secures $14.5 Million in Series C Funding Round

Sindhuja Microcredit Secures $14.5 Million in Series C Funding Round
Preeti Bali / 7:16 am / April 1, 2024

Sindhuja Microcredit, a leading microfinance institution dedicated to empowering rural women entrepreneurs, has secured $14.5 million in a Series C funding round. The investment, announced on Thursday, comes from GAWA Capital, a renowned international impact investor, and Oikocredit, a prominent social impact investor.

Microfinance Provider Focused on Women Entrepreneurs Receives Investment Boost

This significant capital infusion will propel Sindhuja Microcredit’s growth trajectory. The company plans to leverage the funding to expand its reach into new geographical areas while solidifying its presence in existing markets. Additionally, Sindhuja Microcredit intends to utilize the investment to develop and launch new product lines, further catering to the evolving needs of its clients.

About Sindhuja Microcredit

Headquartered in Noida, India, and registered with the Reserve Bank of India, Sindhuja Microcredit operates as an NBFC-MFI (Non-Banking Financial Company-Microfinance Institution). The company is dedicated to addressing the financial and non-financial needs of both rural and semi-urban populations. Beyond traditional microfinance services, Sindhuja Microcredit provides business loans to support working capital requirements and business expansion goals, empowering traders, shopkeepers, and farmers.

Leadership Expresses Excitement About Strategic Partnership

Abhisheka Kumar, Managing Director, and Malkit Singh Didyala, Chief Executive Officer of Sindhuja Microcredit, expressed their satisfaction with securing backing from such esteemed international impact investors. They emphasized that the funding strengthens their commitment to fostering financial inclusion through technology-driven solutions, specifically targeting financially excluded communities and MSME (Micro, Small and Medium Enterprises) entrepreneurs.

Investors Laud Sindhuja Microcredit’s Mission

Agustín Vitórica, Co-Founder of GAWA Capital, applauded Sindhuja Microcredit’s dedication to supporting rural communities and women borrowers. He expressed confidence in the company’s ability to empower India’s underserved farming community by offering them tailored products and services that directly address their unique needs.

Established Track Record of Investment

This Series C funding round represents the latest chapter in Sindhuja Microcredit’s successful fundraising journey. Previously, the company secured Series A funding from Carpediem Capital, a pioneering institutional investor that supported Sindhuja Microcredit during the challenging IL&FS crisis in India’s financial sector. The company further bolstered its financial resources with a Series B funding round led by Abler Nordic during the initial phase of the COVID-19 pandemic. Additionally, Abler Nordic co-led a pre-Series C round alongside Carpediem Capital, demonstrating their continued belief in Sindhuja Microcredit’s potential.

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