 "Adar Poonawalla, CEO, Serum Institute")
Svasti Microfinance, a start-up backed by Serum Institute of India Chief Executive Adar Poonawalla, is in talks to raise Rs 150 crore in the next financial year, said a company executive.
This is likely to conclude by the third quarter of FY22, said Arunkumar Padmanabhan, co-founder of Svasti Microfinance. The company, which supports women micro entrepreneurs thorough collateral-free loans, is in talks with both India and foreign investors to raise this round, Padmanabhan said.
The Reserve Bank of India-licensed firm has just raised Rs 31 crore from its existing investors Poonawalla, Nordic Microfinance Initiative, and Rajiv Dadlani Group.
This is likely to conclude by the third quarter of FY22, said Arunkumar Padmanabhan, co-founder of Svasti Microfinance. The company, which supports women micro entrepreneurs thorough collateral-free loans, is in talks with both India and foreign investors to raise this round, Padmanabhan said.
The Reserve Bank of India-licensed firm has just raised Rs 31 crore from its existing investors Poonawalla, Nordic Microfinance Initiative, and Rajiv Dadlani Group.
