Satya MicroCapital Ltd, a New Delhi-based micro-lending company, announced it has raised Rs 105 crore in equity funding by Gojo & Company, Inc. This is one of the first investments in the microfinance sector after the nationwide lockdown.
The company will utilise the recent capital infusion in a diversified manner for employment generation and livelihood rehabilitation across terrestrial footprints in the country.
Vivek Tiwari, MD & CEO, Satya MicroCapital Ltd. stated, “We are grateful to Gojo & Company, Inc. for their continued belief in us. This shows trust of our investors in the company as well as in the MFI industry which is exceptionally praiseworthy. The extent of confidence Mr. Sanjay Gandhi and Mr. Taejun Shin have fostered in our organization holds paramount significance for us and serves as a clear indicative of our substantial strength, intrinsic values, and reliability. This further validates our business model and the responsible growth we have achieved in last 3 years. Yielding capital infusions like this during the hazardous outbreak of such a pandemic is rare. Gojo not only holds a deep understanding of the microfinance sector in Asia but also shares our long-term vision of building a high-quality organisation serving people at the bottom of the economic pyramid. We are certain that the capital infusion will serve as driving force to SATYA for reinforcing its vision of being a catalyst for the socio-economic upliftment of 5 million households by the year 2025, which will enable us to empower more and more entrepreneurs from the underserved sections of society”.
Sanjay Gandhi – Founder & Chief Investment Officer, Gojo & Company Inc. said “It gives Gojo great pleasure to close the INR 105 crores equity funding round with Satya Microcapital Limited. Despite these tough COVID times, Gojo’s confidence on Satya remains as strong as ever. We are positive that Vivek Tiwari and the highly committed Satya team will make the best use of the fresh equity and continue with its journey to provide financing support to micro entrepreneurs across the nation. With Vivek at the helm of affairs, we do believe that in the days ahead, Satya will emerge stronger and we will see more adoption of technology to make Satya the MFI that will set the highest standards for others to emulate”.
Gojo & Company, Inc., is a Japan-based holding company of microfinance institutions around the world that aims to provide financial access for everyone in developing countries via MFIs. The company is headquartered in Tokyo and has subsidiary microfinance institutions in various countries such as Cambodia, Sri Lanka, and Myanmar.
Satya MicroCapital Ltd caters to a diverse range of 3.8 lac+ wide client base which primarily accounts to married women who own businesses and are looking for means of expansion, income growth or income generation. The organization fundamentally serves low-income, underserved entrepreneurs by extending microloans across rural and semi-urban areas in the country. Satya has a massive presence in over 15,000+ villages through 145+ branches in 131 districts across 22 states.
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