Satin Creditcare Network Limited (SCNL) raised $30 million by selling non-convertible debentures (NCD) to the Netherlands Development Finance Company (FMO) to accelerate its microfinance lending portfolio.
This investment would help Satin Creditcare in its planned expansion, portfolio growth, and its efforts in increasing financial inclusion, through its operations in more than 20 states.
H P Singh, CMD, SCNL said, “With the new capital pool at our disposal, we will be looking at strengthening our ongoing credit lending services to a larger section of our existing and potential customer base”.
Source: Business-Standard