PE Fund Investments
Affordable housing financier Sitara raises $20-M from Noway's NMI, others
Gurgaon-based affordable housing financier Sewa Grih Rin Ltd (operating through its brand name ‘Sitara') has raised USD 20 million through a mix of primary and secondary investment in tranches. The round was led by Nordic Microfinance Initiative AS (NMI) and Women's World Banking Asset Management (WAM) with existing investors also participating. Spark Financial Holdings acted as the exclusive financial advisor to the transaction. Sitara primarily provides financing for house construction, home improvement and livelihood enhancement (through loans against property). It operates through a network of 36 branches in 7 states and has an AUM of INR 3.5 Billion with 15,000+ customers.
From the Venture Intelligence PE-VC Deal Database: Between Apr 15 and Aug 20, Sitara had raised over USD 16 M from Oikocredit, Omidyar Network, Acumen Fund and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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