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Poonawalla, Patni, NMI invest $10 million in Svasti Microfinance
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New Delhi, Nov. 9 -- Svasti Microfinance Pvt Ltd, a non-banking financial company-micro finance institution (NBFC-MFI), has raised $10 million from existing investors, including Adar Poonawalla, the Patni family and Nordic Microfinance Initiative, a senior executive at the firm told Mint in an interview.
The round also saw participation from other investors such as Dubai-based family office of Nalwalas, Kayenne Ventures, a Singapore-based investment vehicle led by Kajal and Navin Fabiani, and other high-net-worth individuals (HNIs) led by the Rajiv Dadlani Group.
The Mumbai-based firm was founded Arunkumar Padmanabhan and B Narayanan.
"We plan to grow our loan portfolio to Rs.550 crore by the end of this fiscal year and we want to go b...
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