Sindhuja Microcredit Secures $14.5M Funding Led by GAWA Capital and Oikocredit

Sindhuja Microcredit Secures $14.5M Funding Led by GAWA Capital and Oikocredit

Synopsis:

Noida-based microfinance firm Sindhuja Microcredit has raised $14.5 million in Series C funding, led by GAWA Capital and Oikocredit, with participation from Carpediem Capital and Abler Nordic. The funding will fuel the company's expansion efforts in existing and new regions, as well as the introduction of new product lines. With a focus on empowering rural communities and women borrowers, Sindhuja Microcredit aims to address the financial needs of India's underserved farming population and plans to achieve a 50% growth in business by fiscal year 2025.

Key Points:

• Sindhuja Microcredit secures $14.5 million in Series C funding round led by GAWA Capital and Oikocredit.
• Carpediem Capital and Abler Nordic also participate in the funding round.
• The funding will support the firm's expansion in existing and new regions and the introduction of new product lines.
• Sindhuja Microcredit focuses on empowering rural populations and women borrowers in India's underserved farming communities.
• The firm aims to achieve a 50% growth in business by fiscal year 2025.
• Unitus Capital serves as the Exclusive Financial Advisor for the transaction, while Vertices Partners acts as the Legal Counsel for Sindhuja Microcredit.
• Sindhuja Microcredit has provided micro-loans to over 400,000 self-employed women micro-entrepreneurs across nine states in India over six years.
• The firm boasts assets under management exceeding Rs 1,000 crore and operates 235 branches.
• Co-founded in 2018 by Abhisheka Kumar and Malkit Singh Didyala, Sindhuja Microcredit offers microfinance to skilled women entrepreneurs and business loans to traders, shopkeepers, and farmers.
• The funding reaffirms the firm's commitment to providing financial services to the financially excluded and MSME entrepreneurs through technology-driven solutions.

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