Annapurna Microfinance raises Rs 61 crore from Bamboo Capital and existing investors

KOLKATA: Bhubaneswar-based Annapurna Microfinance raised Rs 61 crore of equity from private equity firm Bamboo Capital Partners and existing investors, the company announced Wednesday.

Bamboo Capital Partners has put in Rs 32,4 crore while existing investors including BIO and Oikocredit infused Rs 28.6 crore. The company said it would use the fresh capital for growth funding.

Annapurna is India's ninth largest MFI in terms of loans outstanding and grew loan books 34% year-on-year to Rs 1235 crore as on March, 2017.

Gobinda Chandra Pattanaik, managing director of Annapurna said that the firm would leverage the fresh capital in seeking new opportunities in the microfinance sector and moving forward in serving more clients who otherwise do not enjoy access to finance from the mainstream sector.