Microfinance Private Equity

Asmitha Microfinance raises Rs 50 Crore from Blue Orchard Private Equity

asmitha-microfinanceAsmitha has over 1.16 million clients with a loan portfolio of about Rs 745 crore ($165 million) as of July 31, 2009.

Here is another Hyderabad-based microfinance institution that has raised private equity funding. Asmitha Microfin Limited has raised Rs 50 crore from BlueOrchard Private Equity Fund in its second round of funding. The firm, which claims to be one of the top five microfinance institutions in India in terms of portfolio size, has over 1.16 million clients with a loan portfolio of about Rs 745 crore ($165 million) as of July 31, 2009.

Asmitha has a network of 485 branches across 127 districts in 13 states of the country. The funds will be used by Asmitha to expand its operations into the rural markets

Via VCCircle.com

Abhay N

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Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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