New series A funding to Light Microfinance in India
Triple Jump B.V., through ASN Microkredietpool, in a joint transaction of USD 10m with Incofin Investment Management, Belgium and Nordic Microfinance Initiative (NMI), completed USD 3m equity investment into Light Microfinance Pvt. Ltd., India to support the company on its journey to expand its efforts in helping rural women to access affordable loans for income generation.
Orsolya Farkas, Manager Equity at Triple Jump, said: “Light’s commitment to financial inclusion and providing the best financial services to rural underserved low-income women in north-eastern states of India is strongly aligned with ASN Microkredietpool’s mandate. We are pleased to be part of Light Microfinance’s journey.”
Meanwhile, Deepak Amin, Managing Director of Light, said: “We are excited to have a world class impact investor like Triple Jump on board. They bring vast experience from over 100 microfinance companies across the world. We look forward to drawing upon their rich experience to empower the women entrepreneurs that Light Microfinance works with.”
Light Microfinance Limited is an Ahmedabad based microfinance company managed by a passionate, highly professional and tech savvy team. Incorporated in August 2009, it received its NBFC-MFI license in 2011 rolled out its operations in the home state of Gujarat. Light Microfinance operates with a focused aim to extend micro-credit services to under-privileged women in rural geographies who are involved in a wide variety of income-generating activities from agriculture, dairy, vegetable vending, floriculture and food processing to clothing, kirana stores, pottery, and kite making. The company achieved significant milestones of growing to USD 80m with a client base of 220,000 borrowers operating through 133 branches in the north-western states of India.