Private Equity

PE-VC Fund Investments

Rural SME-focused lender FinReach raises Rs.22-Cr led by Colossa Ventures

Marca Money   FinReach Solutions  

Mumbai-based private-sector credit guarantee facilitation services provider FinReach Solutions has raised INR 21.9 crore in a funding round led by Colossa Ventures. The round also saw participation from existing impact investors Michael & Susan Dell Foundation, Omidyar Network Fund Inc. and Caspian SME Impact Fund IV.Founded in December 2020 by Suvalaxmi Chakraborty, FinReach facilitates a privately led Credit Guarantee Program, designed to unlock lending for micro, small, women-led, agri and climate-focused enterprises with a focus on Tier-3 to Tier-5 regions.The new funds will be used to scale operations and strengthen FinReach’s risk and technology platform.

For FY24, Finreach Solutions had reported about INR 1 Cr in Operating Income and about INR 9 Cr in Net Loss.