Utkarsh has received subscription amount of Rs 6 crore in June 2011 from Aavishkaar Goodwell for issuing compulsory convertible debenture. This has increased the net worth of the company from Rs 12 crore to Rs 18.6 crore.
Utkarsh joins the Highmark Credit Bureau
Utkarsh has also joined Highmark, a credit bureau which specializes in providing data of microfinance clients. With more players joining the credit bureau, the process of approval of loans to micro-credit borrowers will become more transparent and information driven. Utkarsh is has begun providing updated data to Highmark Credit Bureau.