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Accion and Pragati India Fund to help Saija Finance With $4.5 Million

NBFC announced last Thursday that the Saija Finance Pvt. Ltd has increased its funding of about $4.5 million from investment companies like Pragati India Fund and global microfinance Accion. The equity infusion will be used by NBFC in order to make their presence even more felt in the region.

Pragati India Fund Logo

Pragati India Fund

This will be made possible with expansion of its branch and extension of outreach clients. Saija Finance which was founded by Shashi Ranjan Sinha and Rashmi Sinha is currently quite successful having seven branches in different districts of Bihar catering around 16,000 clients.

This fact just shows that the company is really successful in doing its business so far. It is also a good reason for the company to invest for some expansion projects. Accion India stated in a press release that working with a reliable company like the Saija Finance enables them to carry out their mission without high chance of failure.

Saija Microfinance Logo

Saija Microfinance

source: http://articles.economictimes.indiatimes.com/2012-06-14/news/32236172_1_siddhartha-chowdri-equity-fund-narayanan-shadagopan

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