M&A

M&A

Rural finserv solutions provider Save Solutions acquires SaGgraha Management Service

IndianWeb2  

Bihar-based rural financial services group Save Solutions Pvt Ltd. has acquired Bengaluru-based SaGgraha Management Services Founded in 2014. SaGgraha offers group microfinance loans and has plans to diversify into secured and unsecured MSME loans. Currently, it manages a portfolio of approx. INR 600 crore for various categories of financial institutions which includes 2 small finance banks, 1 NBFC-MFI and 6 private sector banks. Save Solutions is a banking correspondent network and provides services to rural unbanked people and brings them under the umbrella of organized finance. It claims to serve about 21 million rural Indians in over 8,600 villages. The company, last year, had acquired New Habitat Housing Finance and Development Ltd.