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Sindhuja Microcredit secured $8.7M in Series B funding round

Sindhuja Microcredit, a new generation digital and rural-focused Micro Finance Institution (MFI) offering financial services to the bottom of the pyramid self-employed women entrepreneurs, has now secured a Series B funding round of $8.7 million from the Nordic Microfinance Initiative and Carpediem capital.

It secured its Series A funding round $4 million from Carpediem Capital earlier in the month of March 2019.

Welcoming the investment, Co-founders Abhisheka Kumar and Malkit Didyala, said,

“Our customers, self-employed rural women, are the most vulnerable in the COVID – 19 world with their livelihoods under direct threat, this funding will be used to scale our operations and provide much needed financing to these women micro-entrepreneurs.”

Arthur Sletteberg, Managing Director, NMI added,

“At NMI, we firmly believe in the inherent potential of financial inclusion of poor and rural households in India and we are committed to supporting entrepreneurs who share this endeavor.”

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