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Satya MicroCapital: Satya MicroCapital raises Rs 53 crore in ECB from German bank

The deal marked the bank s second investment in India, furthering their commitment to provide support for the underserved in the rural areas of the country. The bank Bank Im Bistum Essen eg (BIB) earlier invested in Fusion Microfinance. ....

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Fusion Microfinance raises 10 million euro in debt from BIB

Fusion Microfinance raises 10 million euro in debt from BIB
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The capital will help the Delhi-based MFI to on-lend to women borrowers from low-income households, increasing their access to finance.
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Northern Arc Capital facilitated the deal.
KOLKATA: Fusion Microfinance has raised 10 million euro (about Rs 88 crore in local currency) in debt from Bank im Bistum Essen (BIB), a Germany-based cooperative bank.
It s BIB s first ever debt funding in India as the overseas firm looks to be a part of India s microfinance story, which is facing challenges as income generation takes a hit among the weaker section of the population amid a raging second wave of the covid pandemic. ....

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Northern Arc raises Rs 88 crore ECB from German coop bank

Northern Arc raises Rs 88 crore ECB from German coop bank
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Digital debt platform Northern Arc Capital has syndicated an ECB transaction worth 10 million euros or about Rs 88 crore for Fusion Microfinance from the German cooperative bank Bank Im Bistum Essen (BIB), making it the maiden debt funding in the country for the German lender.
The funding will help the Delhi-based Fusion Microfinance in furthering financial inclusion and help alleviate the economic impact of the pandemic, Northern Arc said in a statement on Monday.
With this funding, we look forward to helping rural women with economic opportunities and transform the quality of their lives, Markus Christ of BIB said, adding that it took more than a year for them to conclude the transaction due to the pandemic. ....

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