You can be on Entrepreneur’s cover!

Ananya Birla's Svatantra Microfin Receives USD 230 Mn from Advent International and Multiples Mumbai-based Svatantra offers financial and non-financial solutions to women entrepreneurs in India.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Ananya Birla, Chairperson, Svatantra

Private equity fund Advent International and Multiples has announced to invest INR 1,930 crore (USD 230 million) in Ananya Birla's microlender Svatantra Microfin for an undisclosed stake.

The investment comes after Chaitanya India Fin Credit Limited ("Chaitanya") was recently acquired by Svatantra. Birla, the billionaire Kumar Mangalam Birla's daughter, will maintain a "significant majority stake" in the microlender even after the investment, according to the official statement.

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."

Established in 2013 by Ananya Birla, Svatantra provides affordable financial and non-financial solutions to women entrepreneurs in India. The startup claims that along with its wholly owned subsidiary, Chaitanya, it currently employs over 17,000 employees and services over 4.2 million customers throughout more than 20 states.

Shweta Jalan, Managing Partner, Advent International, said, "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."

"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," added Renuka Ramnath, Founder, MD and CEO, Multiples.

Entrepreneur Staff

Entrepreneur Staff

Editor

Business News

I Designed My Dream Home For Free With an AI Architect — Here's How It Works

The AI architect, Vitruvius, created three designs in minutes, complete with floor plans and pictures of the inside and outside of the house.

Business Ideas

7 Link-Building Tactics You Need to Know to Skyrocket Your Website's Rankings

An essential component of SEO, link building is not just a 'Set them and forget them' proposition, but a dance of skills and strategies.

Science & Technology

These Are the Top 6 AI Threats to Your Business Right Now

The modern workforce is forever changed by artificial intelligence. If you fail to understand that we will all need to learn AI to some degree, you haven't been paying attention.

Business News

This Fan-Favorite Masters 2024 Item Is Still $1.50 as Tournament Menu Appears Unscathed by Inflation

The pimento cheese sandwich is a tradition almost as big as the tournament itself.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Here's One Thing Americans Would Take a Pay Cut For — Besides Remote Work

An Empower survey found a high percentage of respondents would take a pay cut for better retirement benefits and remote work options.