Swiss impact investor backs Satin Creditcare

KOLKATA: Microfinance firm Satin Creditcare Network has announced raising of $9.4 million in external commercial borrowing. The investment is valued Rs 65 crore in current exchange rate.

Swiss impact asset manager responsibility Investments AG anchored the investment, Satin said Friday.

This is the second round of ECB funding by foreign institutions in Satin in a reflection of investors' confidence in India's microfinance sector which has gone through several ups and downs over the past decade.


"The funds raised will be used for further growth in asset under management," the company said.

"These investments will help us manage our medium term funding and also help in our liability mix,” Satin chairman HP Singh said.

"We are also planning to expand our geographical footprints and these investments will help us boost the process,” he said.