Swiss impact investor BlueOrchard invests $4.7m in Satya MicroCapital

Photo: Mint

New Delhi-based microfinance company Satya MicroCapital Ltd has raised $4.7 million (Rs 34 crore) from Swiss impact investment manager BlueOrchard Finance Ltd for on-lending to the Indian micro, small, and medium business sector, with a focus on women entrepreneurs, said a statement on Monday.

The funding has been raised equally from two BlueOrchard managed funds — the Microfinance Initiative for Asia (MIFA), a microfinance initiative to exclusively target Asian microfinance institutions, and the Japan ASEAN Women Empowerment Fund (JAWEF).

“The funds raised will enable us to build a stronger capital base and reach more entrepreneurs by offering them finance options for their livelihood and entrepreneurial undertakings. The capital raised will also help us scale up rapidly and develop innovative offerings for a wider segment of customers,” Vivek Tiwari, MD & CEO, Satya MicroCapital Ltd said.

Satya MicroCapital offers collateral-free credit to micro enterprises on the basis of credit assessment and a centralised approval system. Its limited liability group (LLG) model, mainly focuses on women, with their husbands acting as co-borrowers, through a credit product that allows them to start a new business or build their existing business.

Having commenced lending in January 2017, Satya MicroCapital had reached assets under management (AUM) of Rs 275 crore as of July 31, 2018. The company began its operations in five states and has now reached 65 branches spread across 11 states. In August, it raised $6.2 million (Rs 43 crore) in a round of funding led by Japan’s Gojo & Company, along with existing investor Dia Vikas Capital.

Founded in 2001, by initiative of the UN, BlueOrchard offers premium investment solutions to qualified investors and debt and equity financing to institutions in emerging and frontier markets. With a global presence and offices in four continents, the firm has invested more than $5 billion in 350 institutions across 80 countries till date, providing access to financial and related services to over 37 million low-income individuals.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.