Multiple Private Equity, IFC to invest Rs 1,050 crore in Veritas Finance

Multiples Private Equity and International Finance Corporation (IFC) are investing Rs 1,050 crore in MSME lender, said Veritas Finance Private.

The deal comprises a primary issue of Rs 400 crore and provides a partial exit to early investors, British International Investment (BII) and Lok Capital. Avendus Future Leaders Fund also invested Rs 150 crore in the latest round.
 

D. Arulmany, MD & CEO of Veritas, said the fresh capital raised will provide a significant runway for growth, help deepen its existing offerings and expand into the affordable housing space. "We strongly believe these partnerships will further catalyse our mission to serve the underserved," he said.