ASA International India Microfinance, a part of the ASA International group, has raised EUR 10 Mn foreign currency funding from German Impact Investor – Invest in Visions (IIV). IIV which manages the IIV Mikrofinanzfonds, an impact investment fund was advised by Agents for Impact for this transaction. The deal marks the first foreign currency transaction under the ECB Route for ASAI India Microfinance.
The group will utilize these funds for business growth and expansion.
In a media statement, Andrij Fetsun, CEO of AFI said, “We are all excited to see the first fruitful results after conducting long and intensive research on the Indian market. It was of utmost importance for us to see that ASA International India does not only display strong financial key performance indicators and credit rating but that it also ranked among the best in terms of sustainability with regards to the United Nations Sustainable Development Goals.”
In a statement, CEO ASAI India said, “We are extremely proud of the fact that ASAI India is the first NBFC-MFI in India to get a loan through the ECB route from IIV Mikrofinanzfonds. We would like to thank Vivriti Capital and the Agents for Impact team for their support in getting this deal through.”
ASA-INDIA commenced Microfinance operations on 4th July 2008. ASA-India operates from its Head Office located at Salt Lake, Kolkata. At present, the organization is functional in the states of West Bengal, Bihar, Uttar Pradesh, Assam, Meghalaya, and Tripura.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.