VC Fund Investments
Rural India-focused lender Save Group raises $13-M from Incofin, Maj Invest
Save Group , a Gaya, Bihar-headquartered financial services provider focussed on rural India, has raised USD 13 million in a new funding round from existing investors Incofin (via Incofin India Progress Fund or IPF) and Maj Invest (via Maj Invest Financial Inclusion Fund IIIK).Maj invested around USD 3 million in Save Solutions, the holding company of Save Group. IPF had invested USD 10 million in Saggraha Management Services, a wholly owned subsidiary of Save.Established in 2009, Save operates a banking business and correspondent network catering to over 25 million customers.
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