TruCap Finance Ltd (TRU), an MSME-focused NBFC, has raised Rs 40 crore from responsAbility AG, a sustainable investment fund, by allotting 4,000 secured, listed, rated, and redeemable non-convertible debentures (NCDs)
The funds raised will be used to facilitate access to growth capital for small businesses in MSME hubs, with a particular emphasis on empowering nano-lenders, fostering financial inclusion, and providing working capital to under-served enterprises, the NBFC said.
responsAbility AG, founded in 2003, is a sustainable investment house focussed on climate finance, financial inclusion and sustainable food, to move towards UN Sustainable Development Goals (SDGs).
As of September 2023, TruCap had built an AUM of more than Rs 780 crore, supported by a robust partner ecosystem under its Lending-as-a-Service (LaaS) model, compared to Rs 60 crore in September 2020, the NBFC said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.