Founded and chaired by Ms. Ananya Birla, Svatantra Microfin Pvt. Ltd. (“Svatantra”) has entered into a definitive agreement with Advent International (“Advent”), and Multiples Private Equity (“Multiples”), India’s leading private equity investor, for an investment of $230M.
This deal marks the largest investment by private equity investors in the microfinance sector in India.
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Ananya Birla, Chairperson, Svatantra, 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 transformative 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.”
The investment comes after Chaitanya India Fin Credit Limited (“Chaitanya”) was recently acquired by Svatantra. Following the proposed transaction’s conclusion and the merger with Chaitanya, the combined company will rank among India’s biggest non-banking microfinance firms. The promoter group now in charge, headed by Ms. Ananya Birla, will keep a sizeable majority interest.
Shweta Jalan, Managing Partner, Advent International, said, “We are thrilled to announce Advent’s investment in Svatantra. We believe the microfinance sector serves as a cornerstone for financial inclusion for women entrepreneurs in rural areas, and Svatantra is uniquely placed to create one of the largest and most resilient microfinance institutions. We look forward to supporting the team at Svatantra, led by Ms. Birla, as they embark on their next phase of sustainable growth and profitability.”
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“We are delighted to back Ms. 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’ ethos of powering new possibilities, we look forward to partnering 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.
About Svatantra Microfin Private Limited
Svatantra was incorporated in 2012 by Ms. Ananya Birla. It started its operations in March 2013. In a short span, Svatantra has emerged as the most differentiated process and technology-driven microfinance entity, which offers microcredit at affordable rates in the country.
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