Encourage Capital invests $14m in Indian NBFC Electronica Finance

Photo: Pixabay

Pune-based non-banking financial company Electronica Finance Ltd has raised about $14 million (over Rs 100 crore) from New York-based impact investment and advisory firm Encourage Capital, per an announcement.

Encourage Capital, via its fund Encourage Solar Finance LP, has picked up a minority stake in the Indian company by subscribing to compulsorily convertible preference shares (CCPS) in lieu of the investment.

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