Hope Microcredit Finance Ltd a Kerala based micro finance company has raised funding of up to Rs.10 Crore (US$ 2.3 Million approx) from Belgian investment firm Incofin Investment Management. The funding has been channeled through the Rural Impulse Fund II managed by Incofin. This is the first major fund raising by a microfinance institution in India after the Andhra Pradesh Microfinance Crisis began.
Hope Microcredit Finance Operations
Hope Microcredit started it’s operations as NGO in August 2005 and worked with the Self Help Group Model. It transferred it’s portfolio to a Non Banking Financial Company (NBFC) in April 2010. Hope Microcredit Finance Ltd currently has more than 80,000 clients who are serviced through it’s 42 Branches.The company has a loan book slightly over Rs 25 crores.
Hope Microcredit Branch Network
The company is headquartered in Palakkad district of Kerala and it is one of the few micro finance companies having operations in the Andaman Islands. Know more about Hope Microcredit at – http://hopemicrocredit.com
Incofin’s Investments in India
Previosly Incofin has invested in three other microfinance NBFC’s in India which are Fusion Microfinance, Grameen Koota and Asomi Finance.