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Article: ACCION Takes Equity Stake in Saija Finance, a Microfinance Institution Serving India's Poorest.
- Article from:
- PR Newswire
- Article date:
- November 12, 2009
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BOSTON and BANGALORE, India, Nov. 12 /PRNewswire/ -- ACCION International, a pioneer and leader in global microfinance, announced today that it has invested $500,000 for a 49.5 percent equity stake in Saija Finance Private Limited, a microfinance start-up that provides financial services to microentrepreneurs and low- and middle-income families in one of India's most underserved regions.
The investment was made through ACCION's equity investment arm, the ACCION Gateway Fund, and represents the fund's fourth investment in India. Other Gateway investments in India include Swadhaar FinServe, Lok Capital and United Villages.
Based in the city of Patna, ...