<article><a style="color: #000080;" href="http://dealstreetasia.com/tag/annapurna-microfinance" target="_blank" rel="noopener noreferrer">Annapurna Microfinance</a> has raised new funding round of Rs 61 crore (9.5 million), led by<a style="color: #000080;" href="http://dealstreetasia.com/tag/bamboo-capital" target="_blank" rel="noopener noreferrer"> Bamboo Capital Partners</a>.</article>

<a style="color: #000080;" href="http://dealstreetasia.com/tag/annapurna-microfinance" target="_blank" rel="noopener noreferrer">Annapurna Microfinance</a> has raised new funding round of Rs 61 crore (9.5 million), led by<a style="color: #000080;" href="http://dealstreetasia.com/tag/bamboo-capital" target="_blank" rel="noopener noreferrer"> Bamboo Capital Partners</a>.
While Bamboo Capital injected fresh equity capital of Rs 32.4 crore, existing investors Belgian Investment Company for Developing Countries (BIO) and the Netherlands-based Oikocredit infused Rs 28.6 crore in equal amount, as per an official statement.
The Odisha-based company plans to use this latest round of fund capital to further advance its growth and its expansion efforts.
Annapurna had earlier raised funds from SIDBI IMEF, SIDBI Venture Capital Ltd (SVCL), BIO, Incofin Investment Management, DCB Bank and Oikocredit.
Annapurna operates in 10 states and had gross loan portfolio Rs 1,236 crore as on March 2017. It mainly operates in Odisha and Chhattisgarh, and has been expanding its footprint into neighbouring states. It plans to further expand its network into states like Punjab and Haryana also.
Gobinda Chandra Pattanaik, MD and CEO of Annapurna said, that leveraging the financial experience and access to capital through this investment, the Annapurna management team will be able to take advantage of new opportunities in the microfinance sector and strategically move forward in serving more clients with no or limited access to finance from the mainstream sector.
In October 2016 Incofin, a long-time investor in Annapurna, exited the majority of its stake with a strong return, through a secondary share sale to Women’s World Banking Capital Partners for Rs 50.5 crore.
Microfinance space has seen a lot of investor interest lately. In April, Spandana Sphoorty Financial Ltd raised $270 million through a mix of equity and debt funding led by Kedaara Capital. Prior to that, IFC committed to provide up to $20 million to RGVN (North East) Microfinance Ltd in the form of a senior debt investment.
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Annapurna Microfinance has raised new funding round of Rs 61 crore (9.5 million), led by Bamboo Capital Partners with participation from existing investors.

India: Annapurna Microfinance raises $9.5m led by Bamboo Capital

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India: Annapurna Microfinance raises $9.5m led by Bamboo Capital

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