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Svasti Microfinance raises Rs.47.5-Cr from Norway’s Abler Nordic, others

Economic Times  

Mumbai-based Svasti Microfinance has raised INR 47.5 crore from Norway-based impact investor Abler Nordic and local investment entity Rajiv Dadlani Group, in a combination of equity and subordinated debt.Svasti is a non-banking financial company-microfinance institution (NBFC-MFI) that provides financial services to low-income women to foster entrepreneurship and economic empowerment. It offers Joint Liability Group (JLG) loans, MSME (micro, small and medium enterprises) loans, and consumer finance, aiming to make financial access possible for individuals lacking collateral.The company plans to use the proceeds to expand its loan portfolio, further enhance its proprietary digital infrastructure, and diversify its loan product offerings beyond traditional joint liability loans. Svasti aims to increase its assets under management to INR 1,400 crore by March 2027.

Between Sep 2010 and Dec 2020, Svasti Microfinance had attracted about USD 31 M from Abler Nordic, Poonawalla Family Office, BlueOrchard, Michael & Susan Dell Foundation and others.For FY25, Svasti Microfinance had reported about INR 240 Cr in Operating Income and about INR 21 Cr in Net Loss.