Svatantra Microfin has entered into a definitive agreement with Advent International and Multiples Private Equity for an investment of Rs 1,930 crore.
Speaking in this regard, Ananya Birla, Chairperson, Svatantra Microfin, said, “This investment by Advent and Multiples marks a momentous occasion for us. My team and I are grateful to have investors on board who share our vision. This era for Svatantra propels us towards our goal of becoming the foremost and most impactful microfinance institution, creating a conducive environment for entrepreneurs who fuel India’s growth story.”
According to Shweta Jalan, Managing Partner, Advent International, the microfinance sector serves as a cornerstone for financial inclusion for women entrepreneurs in rural areas, and Svatantra is placed to create one of the largest and most resilient microfinance institutions.
“We are delighted to back Ananya Birla in building Svatantra to be the best-in-class institution delivering inclusion at scale. Its recent acquisition of Chaitanya brings together two exceptional platforms and management teams. In line with Multiples’s ethos of powering new possibilities, we look forward to partnering with the Svatantra team in its journey of expanding products, stepping up technology and enhancing analytics to widen the reach of its transformational impact,” said Renuka Ramnath, Founder, MD and CEO, Multiples.
