10 September 2024
SATYA MicroCapital Limited, a finance company registered with the Reserve Bank of India and focused on providing financial services to underprivileged women entrepreneurs, has received another round of funding of Rs 500 crore (USD 60Mn) from Sumitomo Mitsui Banking Corporation (SMBC), a well-known Japanese multinational financial services institution. This marks the second time SATYA has received funding from SMBC.
The new debt infusion will support SATYA's plans to improve its operational model, innovate its credit offerings, expand its product portfolio, and enhance its business processes. Additionally, the funding will aid SATYA in its efforts to promote financial inclusion for women micro-entrepreneurs and empower women through microfinance.
Vivek Tiwari, CEO & CIO of SATYA Limited, expressed that the partnership with SMBC Bank is crucial for SATYA's mission to enhance financial inclusion and empower women entrepreneurs in India. He emphasized that SMBC's trust in SATYA's business model will be central to their expansion efforts.
SATYA MicroCapital Limited, a finance company registered with the Reserve Bank of India and focused on providing financial services to underprivileged women entrepreneurs, has received another round of funding of Rs 500 crore (USD 60Mn) from Sumitomo Mitsui Banking Corporation (SMBC), a well-known Japanese multinational financial services institution. This marks the second time SATYA has received funding from SMBC.
The new debt infusion will support SATYA's plans to improve its operational model, innovate its credit offerings, expand its product portfolio, and enhance its business processes. Additionally, the funding will aid SATYA in its efforts to promote financial inclusion for women micro-entrepreneurs and empower women through microfinance.
Vivek Tiwari, CEO & CIO of SATYA Limited, expressed that the partnership with SMBC Bank is crucial for SATYA's mission to enhance financial inclusion and empower women entrepreneurs in India. He emphasized that SMBC's trust in SATYA's business model will be central to their expansion efforts.
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