Microfinance startup SATYA MicroCapital Limited has raised Rs 72.5 cr from Swiss impact investors and BlueOrchard Finance Limited.The funding will be received through InsuResilience Investment Fund (IIF) and Japan ASEAN Women Empowerment Fund (JAWEF), which is managed by BlueOrchard.
SATYA MicroCapital launched its micro-finance operations from its Bulandshahr branch in Uttar Pradesh. Since then, it has set up 65 branches across 11 states - Assam, Bihar, Chhattisgarh, Haryana, Odisha, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, and West Bengal.
Vivek Tiwari, MD and CEO, SATYA MicroCapital Limited, said, "The funds will be used for effectively promoting animal husbandry bundled with livestock insurance and in helping a wider section of small aspiring women entrepreneurs to normalise their business. We are thankful to BlueOrchard Finance for showing trust and confidence in SATYA. This will definitely boost the microfinance activities in India.”