Fusion Micro Finance has changed its name to Fusion Finance, starting 9th July, 2024.
Founded in 2010, Fusion is a prominent player in India’s developing microfinance market, having an Asset Under Management (AUM) of Rs 11,476 crore as of 31st March, 2024.
Speaking on the change, Devesh Sachdev, Managing Director (MD) and Chief Executive Officer (CEO), Fusion Finance, said, “Fusion has been growing at a steady pace over the past years with a steadfast focus on providing financial services to unserved and under-served population. In this journey, we have continued to evolve along with our customers. Going forward, our aim is to provide a more diverse range of financial products to address their expanding needs. This diversification will also help us in strengthening our business resilience, ensuring a long-term sustainable growth. Importantly, at Fusion, we continue to stay committed to the microfinance business, and will continue to maintain the minimum 75 per cent criteria of “qualifying assets.”
The company has helped to promote financial inclusion by providing financial services to unserved and underserved female entrepreneurs in rural and peri-rural areas. In 2019, the company expanded into MSME loans in order to serve the industry’s missing middle group.
As of 31st March, 2024, Fusion had successfully increased its AUM in the MSME category to Rs 531 crore, with 97 specialised MSME branches across the country.
