Ujjivan Financial Services, a Bangalore, India-based microfinance institution, is pleased to announce the successful completion of the fourth round of equity infusion. Originally planned for USD 15 million, the equity round was over-subscribed and increased to USD 19 million. The incremental capital was largely subscribed by existing shareholders, including Unitus Equity Fund (UEF), managed by… Read more >
Tag: india
Funding the Poor Man’s Dream (Ujjivan)
November 13, 2008 – Media Exposure
Sales are brisk at the cigarette stall of Ram Naresh Gupta. His daily income hovers around Rs 800, for he is strategically located near one of the exits of Delhi’s chaotic Azadpur wholesale market. On a recent trip to his village in Gorakhpur, UP, a co-passenger robbed him of his considerable savings of Rs 1 lakh… Read more >
SKS Microfinance Raises Rs 366 Cr In Fourth Round
November 10, 2008 – Media Exposure
In the largest microfinance deal in the world, Hyderabad based SKS Microfinance has raised Rs 366 crore or $75 million from private equity investors. This is fourth round of fund raising by SKS. Sandstone Capital, an India focused hedge fund with $1 billion capital under management, has led the deal, while the other investors in… Read more >
ACCION, Michael & Susan Dell Foundation and Unitus Equity Fund Invest in Swadhaar FinServe
October 14, 2008 – Media Exposure
MUMBAI, India, Oct. 14 /PRNewswire/ — ACCION International (through its Gateway Fund), the Michael & Susan Dell Foundation and the Unitus Equity Fund (UEF) announced investments in Swadhaar FinServe Private Limited, a microfinance institution (MFI) operating in the slums of Mumbai. The promoters of Swadhaar FinServe, Veena Mankar and Haseena Vahanvaty, bring together a unique… Read more >
Congratulations to Ujjivan!
August 1, 2008 – Update
On July 8, Unitus partner Ujjivan crossed the 100,000-client threshold, a major accomplishment. Headed by CEO Samit Ghosh, the organization reached the milestone in just 982 days. Ujjivan launched the first of its pilot programs in November 2005 in Bangalore, India, and currently operates 68 branches centered around Bangalore, Kolkata, and New Delhi. A Unitus… Read more >
MokshaYug Access announces $2 M funding
March 17, 2008 – Media Exposure
New Delhi: MokshaYug Access (MYA) announced its funding at Rs8.35 crores ($2 million) from Unitus Equity Fund L.P. (UEF), a private equity fund that makes strategic investments in emerging microfinance institutions. Vinod Khosla, venture capitalist and former general partner at Kleiner Perkins and founder of Sun Microsystems, Harsha Moily, founder and CEO of MYA and… Read more >
Interview with Harsha Moily, MokshaYug Access
February 19, 2008 – Media Exposure
While traveling in the Philippines, Global X had a chance to talk to Harsha Moily, CEO of MokshaYug Access (MYA), a microfinance institution based in Karnataka that has close to 100 employees and US$2 million in loans. MYA goes beyond microlending. Harsha Moily’s philosophy is that microfinance should always include a wide range of financial services… Read more >
SKS Microfinance Raises 3rd Round
February 1, 2008 – Media Exposure
SKS Microfinance Pvt. Ltd., one of the fastest growing microfinance company in the world, has announced the successful closure of a third round of funding in which it has raised Rs. 124 crores. The third round of funding is the largest microfinance investment in India till date. SKS Microfinance is the largest venture-backed microfinance institution… Read more >
Social Entrepreneur Spotlight: Harsha Moily
February 1, 2008 – Update
Harsha MoilyPosition: Founder and CEOOrganization: Moksha Yug AccessUnitus Partner Since: 2007 Moksha Yug Access joined the Unitus portfolio of partners in October 2007. Harsha Moily, the founder and CEO of the organization, is one of 20 dynamic, visionary leaders who are working with Unitus to catalyze growth and innovation in the field of microfinance. What… Read more >
Moksha Yug Access Joins as Unitus Partner
October 10, 2007 – Press Release
New Partnership Announcement: MokshaYug Access Partnership will help MYA to reach 1,000,000 of India’s working poor by 2010 October 10, 2007—Unitus, Inc., a worldwide leader in scaling innovative solutions to global poverty, today announced a new partnership with MokshaYug Access (MYA), a company working in northern Karnataka, India to provide “microfinance plus” services to poor… Read more >
Metro Microfinance Pioneers (Ujjivan)
June 21, 2007 – Media Exposure
With a few prominent exceptions (including SEWA in Ahmedabad) microfinance institutions in India have targeted the rural poor. The urban poor were thought to be too mobile and lacking in neighbourly affinity and cohesion to ever generate the peer-group pressure on which unsecured lending to borrowers organised in joint-liability groups depends. However, all that is… Read more >
Announcing Three New Partnerships in India
May 14, 2007 – Press Release
Unitus Announces Three New Partnerships in India Partnerships to provide life-changing microfinance services to more than 650,000 clients by 2010 Redmond, WA—May 14, 2007— Unitus, a worldwide leader in scaling innovative solutions to global poverty, today announced partnerships with three microfinance institutions in India: Adhikar, IIRM and Vardan Trust. Unitus will play a key role… Read more >