Aavishkaar Goodwell has successfully exited Suryoday Micro Finance, marking a significant milestone as the institution transitions into a Small Finance Bank supported by new aligned investors.
Information on the Target
Suryoday Micro Finance is a prominent player in the Indian microfinance sector, recognized for its commitment to financial inclusion. Established to provide loans primarily to urban women from economically weaker sections, Suryoday has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Small Finance Bank (SFB). This transition represents a significant milestone in its journey while maintaining a focus on empowering underserved communities.
Since its inception, Suryoday has experienced remarkable growth, with a gross loan portfolio of USD 154 million as of March 2016. The company has disbursed over INR 29,800 million (exceeding USD 550 million) to clients, signifying its robust operational expansion and commitment to enhancing financial literacy and savings habits among low-income populations.
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Industry Overview
The microfinance industry in India has been pivotal in advancing financial inclusion, particularly among marginalized groups. With a growing awareness around the importance of providing accessible financial services
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Aavishkaar Goodwell
invested in
Suryoday Micro Finance
in 2017
in a Venture Debt deal
Disclosed details
Revenue: $154M