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Avanti Finance secures ?120 crore funding to expand loan book

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Avanti Finance secures $14.2 million equity funding to expand loan book, with total funding raised at $80 million.
Avanti Finance, a Bengaluru-based microfinance institution, has secured ₹120 crore in funding from the US International Development Finance Corporation (DFC) to expand its loan book. This investment aims to support Avanti's growth by providing loans to microenterprises and low-income households, particularly in rural and semi-urban areas of India. The funding will help Avanti increase its outreach, offering financial services to underserved communities, thereby fostering economic development and financial inclusion. The DFC's involvement underscores its commitment to promoting economic growth and stability in emerging markets through private sector engagement.

Read the Full Business Line Article at:
[ https://www.thehindubusinessline.com/money-and-banking/avanti-finance-secures-120-crore-funding-to-expand-loan-book/article68972260.ece ]