Norway’s NMI, Carpediem invest in Delhi-based Sindhuja Microcredit

MUMBAI: Norway-based Nordic Microfinance Initiative (NMI) and Carpediem Capital have agreed to invest Rs 67.5 crore in Sindhuja Microcredit, a New Delhi-based rural targeted micro finance establishment.
NMI and Carpediem will choose minority stakes in the corporate, which supplies monetary providers to the underside of the pyramid self-employed girls entrepreneurs.

Sindhuja Microcredit has raised $four million in Series A funding in March 2019 from Carpediem.

Founded two years in the past, Sindhuja has supplied microloans to over 84,000 self-employed girls micro-entrepreneurs throughout 5 states in Northern a part of the nation. The Company at present operates 56 branches in these states.

Vidura Capital acted because the Exclusive Financial Advisor for the transaction. Vertices Partners acted because the Legal Counsel for Sindhuja Microcredit and Antares Legal for the traders for the transaction.

“Our customers including self-employed rural women, are the most vulnerable in the COVID – 19 worlds with their livelihoods under direct threat. This funding will be used to scale our operations and provide much needed financing to these women micro-entrepreneurs,” stated Abhisheka Kumar, co-founder and MD of Sindhuja.

Nordic Microfinance Initiative is a properly reputed worldwide affect investor, which invests in MFIs throughout Africa and Asia, strictly specializing in double backside line investments. NMI is a public-private partnership, owned by the Norwegian and Danish governmental funds for growing international locations and huge non-public sector establishments. It manages funds of over $250 million.

“At NMI, we firmly believe in the inherent potential of financial inclusion of poor and rural households in India and we are committed to supporting entrepreneurs who share this endeavor,” stated Arthur Sletteberg, Managing Director, NMI.

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