UditCaspian Debt, a Corporate Lender, has now secured $20 million in the long debt funding round from the US international development Finance Corporation.
The new loan – a combination of subordinated and senior debt – will be going to help Caspian Debt provide customized and collateral-free loans, digitally, to enterprises operating in high impact sectors in the country, said the announcement.
These include SME Finance, Housing, Sustainable Agri-business, microfinance, and education.
Viswanatha Prasad, Founder and Managing Director of Caspian Debt, said the company would use the funding to focus on “promoting disruptive entrepreneurs, who are pushing the envelope for creating sustainable impact.”
Commenting on the financing, Antony Randazzo, CFA Investment Director at DFC, said:
“Small businesses are the engine of growth and job creation in India, and high impact businesses are the vehicle for achieving a more responsible, sustainable and equitable economic future. This loan is an expression of confidence we place in the important work that Caspian Debt does, and demonstrates our long-term commitment, particularly in these uncertain times.