Sindhuja Microcredit Secures $5 Million in Pre-Series D Funding Round
Abler Nordic Among Firms Infusing $5 Million In Sindhuja Microcredit In Pre-Series D Round
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Sindhuja Microcredit, a rural-focused microfinance institution based in Noida, India, has raised $5 million (approximately ₹47 crore) in a pre-Series D funding round. The investment, led by Abler Nordic and GAWA Capital, aims to enhance the company's capital base and expand credit access for underserved communities.
- 01Sindhuja Microcredit raised $5 million in funding.
- 02Investors include Abler Nordic, GAWA Capital, and Oikocredit.
- 03Funds will strengthen capital and support business expansion.
- 04The company has served over 500,000 self-employed women and micro-entrepreneurs.
- 05Focus on providing technology-enabled financial services to underserved households.
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Sindhuja Microcredit, a Noida-based rural microfinance institution, announced it has secured $5 million (around ₹47 crore) in a pre-Series D funding round. This investment involved existing investors, including Abler Nordic, GAWA Capital through its Huruma Fund, and Oikocredit. The funds will be utilized to bolster the company's capital base, facilitate business expansion, and improve access to credit for underserved communities, particularly low-income women borrowers and micro-entrepreneurs. Co-founders Abhisheka Kumar and Malkit Singh Didyala emphasized their commitment to making financial services accessible to those excluded from traditional banking. Over its eight years of operation, Sindhuja Microcredit has successfully provided micro-loans to more than 500,000 self-employed women and micro-entrepreneurs, highlighting its significant impact on rural financial inclusion.
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This funding will enhance Sindhuja Microcredit's ability to provide loans to underserved communities, potentially improving the financial situation of many low-income women and micro-entrepreneurs.
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