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Namdev Finvest Raises $7.5 Million NFPL's mission is to finance underserved customers in semi-urban and rural markets thereby enabling their social and economic development

By Teena Jose

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Namdev Finvest raises $7.5 million from Symbiotics Investments,that has subscribed a Green Bond issued by Namdev Finvest Private Limited (NFPL), an NBFC in Rajasthan. The Green Bond proceeds will be fully used towards a four-year, senior secured and local currency loan to Namdev Finvest Private Limited. The bond forms part of the $75 million green basket bond programme structured by Symbiotics in partnership with British International Investment (BII), the UK's development finance institution.

"This Green Bond is a confirmation of Symbiotics Investments strategy to make sustainability, social and green bonds accessible for smaller issuances in emerging and frontier markets. The issuance of this bond is fully aligned to our mission to foster sustainable development in emerging and frontier economies, and we are excited to nurture and grow this segment of the green bond market even further," said Prashant Bhardwaj, regional manager for South Asia, Symbiotics.

Symbiotics is a market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services.

"We deeply value our partnership with Symbiotics Investments. This bond will help in our purpose of supporting underserved customers while furthering the agenda of climate efficient financing," said Jitendra Tanwar, managing director and CEO, NFPL.

NFPL's mission is to finance underserved customers in semi-urban and rural markets thereby enabling their social and economic development. The platform operates out of 60 branches across 5 states in north and western India, and has also financed close to 20,000 customers, claimed by the company in a statement.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
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