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BASIX Sub-K raises Rs.350mn towards deepening financial inclusion

ANI  |  New Delhi [India] 

Sub-K iTransactions Ltd, a Hyderabad-based company focused on financial inclusion, raised Rs. 350 million to deepen their efforts towards greater in

Sub-K will use a sizeable amount of the funds for growth by investing in the expansion of its and credit facilitation for micro and small businesses. Some of the amount raised will also be dedicated to strengthening its IT platform that would help the company position itself as a preferred FinTech as well as distribution partner for banks and financial institutions.

"We are very excited about this investment. and NMI as well as our early investor & share our vision of a financially included society. Building upon Basix's two decades of cutting edge work in financial inclusion, we will be able to continue to invest in innovations and increase our reach multi-fold, thanks to this investment," said Sasidhar Thumuluri, MD and of Sub-K.

The funds were raised from global nonprofit and pioneer Accion, and Nordic Initiative (NMI), a public-private partnership, owned by among others, the Norwegian and Danish governmental funds for developing countries (and IFU), while served as the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 21 2018. 12:25 IST