Date:27/09/11,
Private Equity,
Cross Border Deal,
Utkarsh Microfinance receives INR 250 million from Norwegian Microfinance Intiative's Frontier Fund KS, Aavishkar Goodwell and existing investor International Finance Corp . Frontier Fund is invests INR 150 million, Aavishkaar Goodwell invests INR 60 million while International Finance Corp is invests INR 32 million in the current round of funding. Intellecap acted as a advisor to deal.
IN March 2010,
Utkarsh Microfinance receives INR 135 million from International Finance Corp.
Utkarsh Microfinance had started its operations in Varanasi in August 2009 with four branches. Currently it operates in 13 districts of UP and Bihar, it has over 57,000 active clients and a loan portfolio of INR 410 million.
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