India: Veritas Finance raises $10m from CDC Group

India: Veritas Finance raises $10m from CDC Group

Soucre: pixabay

CDC Group Plc, the UK government’s development finance institution, has invested $10 million (Rs65 crore) in Veritas Finance Pvt. Ltd, which lends to micro and small enterprises, the company said in a statement on Wednesday.

Founded in 2015, Chennai-based Veritas Finance was registered as a non-banking financial company (NBFC) by the Reserve Bank of India (RBI) in October 2015. It provides long-term finance for business expansion as well as shorter-term loans for working capital needs.

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