by the MicroCapital Team -

MICROCAPITAL BRIEF: C-Quadrat Dual Return Vision Microfinance Fund Invests in Varthana, Funder of Educational Institutions in India

The Dual Return Vision Microfinance Fund, which is managed by C-Quadrat Asset Management (AM), recently invested an undisclosed amount of funds in Varthana, an India-based lender to “affordable” private schools, with the aim of improving educational access for children whose families have low incomes. C-Quadrat AM is a member of the Austria-based C-Quadrat Investment Group.

Varthana lends to primary and secondary schools for infrastructure, teacher training and working capital. It also offers management and educational consultancy to school owners. As of 2019, Varthana has secured and

by the MicroCapital Team -

MICROCAPITAL BRIEF: STEP of India Borrows $200k from BNP Paribas for Microfinance Lending

The Sampurna Training and Entrepreneurship Programme (STEP), a nonprofit provider of microfinance and social services in India, recently borrowed INR 14 million (USD 200,000) from BNP Paribas, the France-based bank recently told MicroCapital. STEP, which is based in the city of Kolkata, also borrowed INR 10 million (USD 142,000) from BNP Paribas in 2018.

STEP clients are all women, mainly in urban areas. Established in 2010, STEP “firmly believe[s] that only providing access to finance is not enough for the holistic development of the disadvantaged families.” In addition to loans, it offers skills training, business counseling, health services and social support services. Its loans are designed for business, education, health needs and housing improvement. The business loans range in size from INR 1,000 (USD 14) to INR 50,000 (USD 710), with terms of

by Daena McClintock -

MICROFINANCE EVENT: Bengaluru Fintech Summit; May 30 – 31, 2019; Bengaluru, India

The fifth fintech (financial technology) summit organized by UK-based Fintech Storm features speakers from the banking, fintech and venture capital industries, as well as policymakers from the government of India. The first day of the summit will focus on

by the MicroCapital Team -

MICROCAPITAL BRIEF: Electronica Finance of India Sells $10m in “Masala Bonds” to responsAbility Climate Fund for Lending to Manufacturing SMEs to Cut Greenhouse Emissions

Electronica Finance Limited, a lender to micro-, small and medium-sized enterprises (MSMEs) in India, recently raised the local-currency equivalent of USD 10 million through a bond issue to a fund managed by Switzerland-based responsAbility Investments whose goal is to reduce the impact of people on climate. Electronica, which lends to firms involved in services and manufacturing, will use the funds to facilitate purchases of energy-efficient equipment for creating plastics, machine tools, packaging and

by the MicroCapital Team -

MICROCAPITAL BRIEF: BNP Paribas Lends to Satin Creditcare Network of India for Microfinance

France-based bank BNP Paribas has told MicroCapital that it lent an undisclosed sum today to Satin Creditcare Network, a microfinance institution (MFI) in India, to support the growth of its microcredit portfolio. Satin Creditcare serves 3.5 million customers in 18 states with a loan portfolio of approximately INR 62 billion (USD 900 million).

Established in 1990, Satin Creditcare is based in Delhi and lends to households as well as micro-, small and medium-sized enterprises. Its mission is to “provide financial assistance to a large number of households which are excluded from the ambit of mainstream financial service providers so as to enhance their livelihood and promote a productive environment.” While Satin Creditcare does not accept deposits, it operates

by the MicroCapital Team -

MICROCAPITAL BRIEF: Incofin Sells Equity Stake in Annapurna Microfinance of India as Asian Development Bank, Bamboo Financial Inclusion Fund, Oikocredit Buy In

Belgium-based Incofin Investment Management recently sold all of its shares in India’s Annapurna Microfinance Private Limited to a group of investors, among whom two have been identified, the Bamboo Financial Inclusion Fund, which is managed by Bamboo Capital Partners, and Dutch cooperative investor Oikocredit. In a separate transaction, the Philippines-based Asian Development Bank paid the rupee-equivalent of

by Michelle Fleming -

MICROCAPITAL BRIEF: Accion Venture Lab Exits from, Maj Invest Buys Equity in Microfinance Institution Aye of India

Accion Venture Lab, the “seed stage investment arm” of US-based NGO Accion, recently sold part of its stake in Aye Finance, an Indian non-banking financial company – microfinance institution (NBFC-MFI). Meanwhile, Maj Invest Group, a Danish asset management company, bought a stake in Aye Finance through its Financial

by Anuhya Tadepalli -

MICROFINANCE EVENT: Livelihoods India Summit; January 28-29, 2019; New Delhi, India

The Livelihoods India Summit is organized by Access Development Services to facilitate dialogue on improving the livelihoods of poor people and building consensus on sustainable solutions. This ninth iteration of the event is co-hosted by the Indian government’s National Institute for Transforming India (NITI) Aayog. The summit themes include: (1) Capacitating Women: Enabling them for Entrepreneurship; (2) A Dialogue on Value Addition in Agri-Value Chains between the Private and Public Sectors; (3) Infusion of Technologies in Agriculture

by Michelle Fleming -

MICROCAPITAL BRIEF: FMO Buys $30m in Bonds from Satin Creditcare, Supporting Microfinance Institution’s Expansion in Rural India

Indian microfinance institution (MFI) Satin Creditcare Network recently raised USD 30 million through a bond sale to Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a development bank controlled by the Dutch government,

by Michelle Fleming -

MICROCAPITAL BRIEF: Agricultural Fintech CropIn Receives $8m in Equity from Chiratae Venture, Gates Strategic Investment Fund to Improve Satellite Imaging, Outreach in India

Bengaluru-based agricultural technology firm CropIn recently raised USD 8 million in its Series B funding round to improve and expand usage of its mobile apps and other software for agri-business. This software processes satellite imaging to predict future crop outputs as well as offering “real time insight on standing

by Michelle Fleming -

MICROFINANCE EVENT: Inclusive Finance India; December 11 – 12, 2018; New Delhi, India

The goal of Inclusive Finance India 2018 is to present a global perspective on topics such as “financial inclusion policy, regulation, supervision, technology advancements, client protection and institutional framework.” Although this year’s agenda is not yet available, last year’s event included sessions titled “Digital

by Michelle Fleming -

MICROFINANCE EVENT: Villgro Unconvention 2018; December 7 – 8, 2018; Bengaluru, India

Event Summary: Villgro Unconvention is an event for social entrepreneurs and associated stakeholders active in India within the following sectors: agribusiness, health, education & employability, and energy. Session titles

by Michelle Fleming -

MICROCAPITAL BRIEF: Utkarsh SFB Using ACI’s UP Retail Payments Solution to Expand Payment-card Usage in India

India-based Utkarsh Small Finance Bank (SFB), a former microfinance institution, recently upgraded its implementation of the Universal Participation (UP) Retail Payments solution from US-based financial services enabler ACI Worldwide, enabling Utkarsh “to acquire, authenticate and authorize, route and protect card and digital payments from multiple channels.” The transition also gives Utkarsh access to the

by Anuhya Tadepalli -

MICROFINANCE EVENT: Sankalp Global Summit; December 11-12, 2018; Mumbai, India

Themed “Agenda 3 Billion – Building Entrepreneurial Ecosystems,” the 10th Sankalp Global Summit is organized around the following sectors: agriculture, clean energy, health & sanitation, financial inclusion, and livelihoods. Sample presentation titles include: (1) Financial Inclusion in the Digital Age,

by Michelle Fleming -

MICROCAPITAL BRIEF: Sa-Dhan, Accion’s Smart Campaign, IFC Launching Tool to Monitor Over-indebtedness Among Microfinance Borrowers in India

Sa-Dhan, an association of 190 financial services providers in India, and the Smart Campaign of US-based NGO Accion recently announced the launch of an online monitoring tool intended to increase consumer protection and reduce over-indebtedness

by Anuhya Tadepalli -

MICROFINANCE EVENT: WSBI World Congress of Savings and Retail Banks; November 15-16, 2018; New Delhi, India

The World Savings and Retail Banking Institute (WSBI) World Congress will focus on the role of retail banks in “making globalization inclusive for all.” Presentation titles include: (1) Digitisation as a Tool for Financial Inclusion and Customer Proximity; (2) Locally Focused Savings and Retail Banks in a Circular and

by Anuhya Tadepalli -

MICROFINANCE EVENT: Microfinance & NBFCs Exhibition Cum Conference; October 11, 2018; Kolkata, India

The Fifth Microfinance & NBFCs Exhibition Cum Conference is intended to provide business development opportunities for microfinance institutions (MFIs) and non-banking financial companies (NBFC). The conference agenda includes case studies of NBFCs and MFIs; leadership awards; and panel discussions with titles such as: (1) Adoption and Affordability of Technologies: Challenges & Implications; (2) Safe & Secure Digital Customer Services; (3) and Collaboration & Partnerships: Key for Sustenance in the Changing Economy.

The confirmed list of

by Erik McDonald -

MICROCAPITAL BRIEF: CreditAccess Grameen IPO Raises $164m on Bombay Stock Exchange, National Stock Exchange of India

CreditAccess Grameen Limited, the Indian subsidiary of CreditAccess Asia, recently held its initial public offering (IPO) on India’s Bombay Stock Exchange and the National Stock Exchange of India. CreditAccess Grameen raised