Bhubaneswar : SATYA MicroCapitalLtd., one of the fast growing NBFC-MFIs in the countryhas recently secured fresh funding through Non-Convertible Debentures (NCDs) worth ₹420mn from funds managed by responsAbility Investments AG. The funds will be utilised by the NBFC-MFI in expanding its terrestrial network and product portfolio for theaspiring microentrepreneurs living across marginalised belt of the nation.
Sharing his thoughts, Vivek Tiwari, MD, CEO & CIO, SATYA MicroCapital Ltd. said, “This funding of ₹420mn will bestow SATYA with additional backing required for proliferating its network along with maintaining comprehensive end-to-end digitally controlled business processes. With the active outbreak third wave of COVID-19 being, it is quintessential for us to safeguardour national economy which is highly dependent on our SMEs. This debt funding has instilled a confidence boost in our business model. I am extremely grateful to our lenders and investors for their unwavering trust in SATYA. For me this is exact impetus we need to triumph such trying times. Securing financial backing in a time period which is dominated by pandemic itself is a clear testament of validation in our dynamic operations”.
Being able to receive funds in such difficult times is an important achievement on its own. The priority is to reach out to more and more people and to catapult them towards normalcy.
The NBFC-MFI offers collateral-free credit to micro enterprises based on strong credit assessment and a centralized approval system. SATYA has empowered marginalised population nestling across rural hinterlands by facilitating affordable credit offerings for their livelihood generation and income growth.