Originally published: March 10, 2008
Source: Lok Capital
Lok Capital, an India focused microfinance venture capital fund, will invest US$1.25 million in Satin Creditcare Network Limited. The investment will help the company continue providing financial services to its clients as well as expand its product portfolio and geographical reach across India. Swaminathan Aiyar, a noted Indian journalist will also invest in Satin along with Lok Capital.
Satin Creditcare Network Limited is a leading urban/semi urban MFI working in Delhi and Northern India since 1990. Satin’s financial products have a distinct value proposition for small traders and shopkeepers in urban/semi-urban towns especially the daily repayment model.
Lok Capital has also announced the second closing of its fund at US$22 million. It accessed capital from sector specific institutions like Accion International, responsAbility and Développement international Desjardins (DID). The funds raised will enable Lok Capital to tap the international microfinance expertise of its investors and provide more focused support to its MFI partners in India.
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