your password has been reset successfully, Please login again.

Satya MicroCapital raises funds from Gojo & Company led round

The lender will deploy the funds to expand its presence across its already established markets as well as foray into new geographies and diversify its loan book.
BY BEx Bureau
BusinessEx
Aug 06, 2018

New investor Gojo Company, Inc., a Japan-based firm that holds stakes in microlenders have invested Rs 43 crore ($6.27 million) in equity funding in Women-oriented Satya MicroCapital Ltd, said a press statement released on Monday. Gojo acquired 25% stake in the microlender through this deal.

Existing social-impact investor Dia Vikas Capital Pvt. Ltd also participated in the round, said New Delhi-based Satya MicroCapital.

The lender will deploy the funds to expand its presence across its already established markets as well as foray into new geographies and diversify its loan book.

Established in January 2017, Satya MicroCapital, gives loans to small entrepreneurs in both rural and urban areas. Its Joint Liability Group model mainly focuses on women, with their husbands acting as co-borrowers. A Joint Liability Group typically comprises of 5-10 individuals jointly seeking a loan.

Satya MicroCapital has 55 branches across 55 districts in 11 states Assam, Bihar, Chhattisgarh, Haryana, Himachal Pradesh, Odisha, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand and West Bengal. It had a loan book of Rs 275 crore as on 31 July 2018, the statement said.

Vivek Tiwari, managing director and chief executive of Satya MicroCapital, was earlier chief operating officer at microlender Satin Creditcare Network Ltd.

For the funding round, Mumbai-based advisory firm for private equity investments, Vidura Capital, acted as Satya MicroCapitals consultant.

Please add your Comment
SIMILAR News
August 06, 2018
Nearby Technologies allows lakhs of retailers and merchants to offer bill payment service to their c ...More
By Shah Mohsin
August 04, 2018
The two acquisitions will generate employment opportunities from Ebix in India by around 400 employe ...More
By Shah Mohsin
August 04, 2018
The fresh funds will be used to accelerate product development, reach more customers and for client ...More
By Shah Mohsin
August 03, 2018
Presently, Goibibo comes with features like seat and meal selection, auto check-in and hotel reviews ...More
By Shah Mohsin
August 03, 2018
Ziffy Technologies run ZiffyHomes is functional only in Delhi-NCR and is looking to venture to other ...More
By Shah Mohsin
August 03, 2018
The startup will use the funds to ramp up its bandwidth capabilities. ...More
By Shah Mohsin
August 02, 2018
The company sold 50,000 cases across rum and brandy in FY18 and is looking to sell over 2 lakh cases ...More
By Shah Mohsin
August 02, 2018
The 50-member startup, offers two flagship products a chatbot for sales and support, and a business ...More
By Shah Mohsin
August 01, 2018
Razorpay in a statement said, Razorpay's payment gateway will process more than five million transac ...More
By Shah Mohsin
August 01, 2018
The Rs 300 crore new pump in of the funds marks the maiden NCD transaction with mutual funds with Le ...More
By Shah Mohsin
July 31, 2018
The announcement comes a month after Five Star had received investment offers from two PE firms incl ...More
By Shah Mohsin
July 31, 2018
The software supports eight regional languages, works offline and has a light SDK (software develope ...More
By Shah Mohsin