Noida's Sindhuja Microcredit raises $14.5M led by GAWA Capital, Oikocredit

Sindhuja Microcredit, a Noida-based firm focused on microfinance, has raised $14.5 million in a Series C funding round. The round saw participation from GAWA Capital through its Huruma Fund and Oikocredit, alongside existing investors Carpediem Capital and Abler Nordic. The

The firm plans to use the raised capital for expansion in both current and new regions, as well as the introduction of new product lines.

Empowering the underserved

With a strong emphasis on aiding rural populations and women borrowers, Sindhuja Microcredit aims to empower India's underserved farming community.

 “Sindhuja is focused on supporting people from rural areas and women borrowers, and our collaboration aims to empower India’s underserved farming community. We’re confident that the company is poised to meet this challenge by providing products and services of value to this segment.”

The firm also plans to grow its business by 50% in fiscal year 2025 and expand into new geographies.

Unitus Capital acted as the Exclusive Financial Advisor for the transaction. Vertices Partners acted as the Legal Counsel for Sindhuja Microcredit.

Sindhuja Microcredit growth

Over its six-year operation, Sindhuja Microcredit has extended micro-loans to over 400,000 self-employed women micro-entrepreneurs across nine states in India.

The firm claims to have assets under management exceeding Rs 1,000 crore and operates 235 branches.

Abhisheka Kumar, Managing Director and Malkit Singh Didyala, Chief Executive Officer, Sindhuja Microcredit, said, “GAWA Capital and Oikocredit are well-known international impact investors, and it is a matter of pride for us to have their backing. The funding further strengthens our commitment to make financial service easily available to the financially excluded and MSME entrepreneurs through technology-driven solutions."

Who are the founders?

Founded in 2018 by Abhisheka Kumar and Malkit Singh Didyala, The firm provides microfinance to skilled women entrepreneurs who lack capital. It also provides business loans to traders, shopkeepers and farmers for working capital needs or for expanding their businesses.