Sindhuja Microcredit Raises Rs 120 Crore From GAWA Capital, Oikocredit

Sindhuja Microcredit on Thursday announced a Rs 120 crore fundraise from impact investors GAWA Capital and Oikocredit for business expansion.

The microfinance institution headquartered in Noida will deploy the funds for expanding the business in existing geographies and also enter newer geographies.

The six-year company has provided loans to 4 lakh self-employed women so far in nine states across north, west, and east India, as per an official statement. It operates 235 branches and has over Rs 1,000 crore assets under management.

"Sindhuja is focused on supporting people from rural areas and women borrowers, and our collaboration aims to empower India's underserved farming community," GAWA's co-founder Agustín Vitórica said.

"The funding further strengthens our commitment to make financial service easily available to the financially excluded and MSME entrepreneurs through technology-driven solutions," the company's promoters, Abhisheka Kumar and Malkit Singh Didyala, said.