- Noida-based lender had raised $4 million in Series A round
- Company will utilize funds for business growth and to strengthen its team
Sindhuja Microcredit, a new generation Micro Finance Company, has raised $8.7 million in Series B funding round from Norway-based Nordic Microfinance Initiative (NMI) and Carpediem Capital. The company was founded by Abhisheka Kumar and Malkit Didyala in 2018.
The company will utilize these funds in business growth and strengthen its team.
In March last year, company has raised $4 million in Series A round led by Carpediem Capital.
In a media statement, Co-founders Abhisheka Kumar and Malkit Didyala, said,
“Our customers, self-employed rural women, are the most vulnerable in the COVID – 19 world with their livelihoods under direct threat, this funding will be used to scale our operations and provide much needed financing to these women micro-entrepreneurs.”
Sindhuja Microcredit Pvt. Ltd. (Sindhuja) is a new generation and innovative Microfinance company (NBFC-MFI) currently operating in the states of Bihar and Jharkhand. It aspires to serve financially excluded and self-employed micro-entrepreneurs across rural, semi-urban and urban locations in its area of operations through micro finance loans, micro insurance and other suitable financial products.