Odisha-based MFI Annapurna Finance raises $ 35 mn in capital raise

Third funding round this year bring total investments to $85 mn as company enters clean energy lending.

Annapurna Finance, the Odisha-based micro finance institution (MFI), has raised $ 35 million (Rs 260 crore) in funding from Encourage Capital, Accion and existing investor Oikocredit.

It got $ 30 million from Nuveen Global Impact Fund in March 2021 and $20 million from DEG in November 2021, bringing total investments to $85 million this year.

The investments will help the company provide easier credit access and enter clean energy lending, said Gobinda Chandra Pattnaik, Managing Director, Annapurna Finance.

Annapurna, which has a nationwide rural distribution network, offers micro loans and home improvement loans to individuals and small businesses. The company said it is