Oikocredit and GAWA Capital provide equity finance for new generation microfinance company Sindhuja Microcredit

Oikocredit’s new equity investment deepens collaboration with Indian fintech partner to serve financially excluded rural people and enterprises.

Worldwide cooperative and social impact investor Oikocredit is joining forces with GAWA Capital to invest US$ 14.5 million in Sindhuja Microcredit, a digital and rural-focused microfinance institution (MFI) providing financial services to self-employed women entrepreneurs.

Sindhuja, in its six years of operation, has provided micro loans to more than 400,000 self-employed women micro entrepreneurs across nine states in northern, eastern and western India. The MFI serves ‘base of the pyramid’ clients through 235 branches, most of which are in rural and remote areas. With over INR 10 billion (approx. US$ 120 million) in assets under management, Sindhuja will use the new capital to expand its microfinance services and develop new product lines.

Read the press release here