Arohan Financial snags $24 mn from another DFI
21 October 2024
Microfinance institution Arohan Financial Services, a part of the Aavishkaar-Intellecap Group, has raised nearly Rs 200 crore ($24 million) from Investment Fund for Developing Countries (IFU), a development finance institution backed by the Denmark government
The move comes after the micro lender scrapped its plans to float an initial public offering (IPO) due to tough macroeconomic conditions. Arohan counts private equity firm Tano Capital and secondaries specialist TR Capital among its backers
The Kolkata-based firm, in March 2023, had raised nearly Rs 91 crore ($11 million) from another offshore backer, the Dutch development bank FMO, before the latest IFU investment
Microfinance institution Arohan Financial Services, a part of the Aavishkaar-Intellecap Group, has raised nearly Rs 200 crore ($24 million) from Investment Fund for Developing Countries (IFU), a development finance institution backed by the Denmark government The move comes after the micro lender scrapped its plans to float an initial public offering (IPO) due to tough macroeconomic conditions. Arohan counts private equity firm Tano Capital and secondaries specialist TR Capital among its backers The Kolkata-based firm, in March 2023, had raised nearly Rs 91 crore ($11 million) from another offshore backer, the Dutch development bank FMO, before the latest IFU investment
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