Swarna Pragati, an Indian affordable rural housing microfinance company, raised INR 500m in debt funding.
The State Bank of India provided the financing, which comes after a 2015 Series B round that included Omidyar Network.
The funds will enable the company to expand its reach.
Led by A Ramesh Kumar, Chairman and Managing Director, Swarna Pragati is a rural housing microfinance company providing innovative financial solutions for housing in India, particularly to low-income households and women in rural and semi-urban areas by not requiring a title to guarantee a loan and by assessing the borrower’s creditworthiness using a non-traditional methodology.
FinSMEs
28/08/2017