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Sindhuja Microcredit raises Rs.47-Cr from Ablet Nordic, Gawa Capital, others

Economic Times  

Noida-based microfinance lender Sindhuja Microcredit has raised $5-M (about Rs.47-Cr) through an issue of fresh shares to existing investors Abler Nordic (Rs.28-Cr), Gawa Capital (Rs.14-Cr), and Oikocredit (Rs.,5-Cr).Founded in 2018 by Abhisheka Kumar, the microfinance lender manages a portfolio that reached Rs.1,080-Cr by the end of March. It plans to use the newly raised funds to strengthen its financial position and support ongoing business operations.

Between Mar 2019 and Mar 2024, Sindhuja Microcredit had attracted about USD 27 M from Abler Nordic, Carpediem Capital Partners, GAWA Microfinance Fund, and Oikocredit.For FY25, Sindhuja Microcredit had reported about INR 255 Cr in Operating Income and about INR 35 Cr in Net Loss.