Muthoot Microfin raises Rs 375 cr from Greater Pacific Capital
The company, a part of the Kerala-based Muthoot Pappachan Group, claimed that this is the largest funding for any microfinance entity since 2019 and that the capital will help it become one of the largest microfinancers in the country in two-three years.
Muthoot Microfin on Monday said it has secured $50 million (about Rs 375 crore) funding from Greater Pacific Capital to fuel the microlender’s growth.
The company, a part of the Kerala-based Muthoot Pappachan Group, is the fifth largest microlender in the country and claimed that this is the largest funding for any microfinance entity since 2019. Currently, it serves 19 lakh women entrepreneurs across 16 states and 257 districts, and the capital will help it become one of the largest microfinancers in the country in the next two-three years, the statement said.