Microfinance Private Equity

Janalakshmi Microfinance raises Rs 65 Crore

Janalakshmi raises another Rs 65 cr from Citi Venture to fund growth
The money was raised as part of an ongoing round (‘Series C)’ and more is expected to be raised in the coming weeks. Earlier, it had raised Rs 100 crore as part of its Series A and Series B funding. ET

Initial lending to MFIs may not be strong: Janalakshmi Fin
Bangalore-based urban microlender Janalakshmi Financial Services raised Rs 65 crore from Citi Venture Capital International (CVCI which is based out of London. Ramesh Ramanathan, Chairman of the company, in an interview with CNBC-TV18’s Latha Venkatesh and Sonia Shenoy, spoke about the latest happenings in his company and the road ahead. MC

janalakshmi financial

‘Janalakshmi funding marks turning point for MFIs’
The microfinance (MFI) sector saw record levels of private funding and bank liquidity during 2008 and 2009. Subsequently, funding dried up as the sector became mired in controversies over charging usurious rates of interest and causing spiralling debts amongst the poor. This has also had a dampening effect on the profitability of the sector. TOI

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