Reserve Bank of India registered non-banking financial corporation-micro-financing institution (NBFC-MFI), Satya MicroCapital has successfully raised Rs 1000 million from Mizuho Bank, which is a subsidiary of Mizuho Financial Group. It is the first time Satya has been backed by Mizuho Bank.
The infusion of debt funding will engender an advancement in scaling up Satya’s operational model while continuing to formulate innovative credit offerings, expanding product portfolio, and providing complete end-to-end business processes for its esteemed clients. The funding will also be leveraged towards catalysing financial inclusion amongst women micro-entrepreneurs and shaping a new paradigm of women empowerment through microfinance.
Vivek Tiwari, Managing Director and Chief Executive Officer, Satya MicroCapital, said, “Our association with Mizuho Bank serves as the propelling force and motivation for Satya to continue its mission of driving financial inclusion and empowering women entrepreneurs across India. The level of trust Mizuho Bank has bestowed in our business model will form the helm of our expansion goals. Satya’s business model is eventually gaining impetus across the global landscape. Moving forth, Satya will stay ardently committed to creating sustainable impact and enabling a brighter future for countless households at the bottom of the pyramid.”
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