M&A

M&A

Save Solutions acquires New Habitat Housing Finance for Rs.74-Cr

Economic Times  

Gaya, Bihar-based Save Solutions, which offers financial products via kiosk banking across India, has acquired Noida-based New Habitat Housing Finance Ltd (NHHFDL), a part of the Wave Group, for INR 74 crore. Save (Society for Advancement of Village Economy) was founded in 2009 with the goal of incorporating the highly populated, underserved rural economy into the Indian financial landscape. The deal is expected to help Save Solutions strengthen its financial inclusion portfolio by adding housing loans to its offerings. The company also plans to extend its reach to Delhi-NCR and Uttar Pradesh. Save Solutions is backed by impact investors Incofin and MAJ invest.

From the Venture Intelligence PE-VC Deal Database: Between Sep-17 and Jul-20, Save Solutions raised $23.2 M from Maj Invest and Incofin. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)