Fusion Microfinance Tuesday said
it has raised Rs 520 crore in a series E investment round from
global private equity (PE) firm, Warburg Pincus.
The investment round includes both a primary fund
raise and a secondary sale by early-stage investors, the
company said in a release.
Creation Investment, an existing investor, also
participated in this round.
Early investors, Incofin, NMI ,BIO and Sidbi have
made a successful exit, the release said.
microfinancier completed in February 2018.
"This investment would support our endeavour to
develop into one of the countrys most preferred companies in
the financial inclusion space," it said.
The company also intends to selectively evaluate
potential acquisition opportunities and lead the potential
consolidation in the industry, the statement said.
This also marks Warburg Pincus's first investment in
the microfinance sector in the country.
Fusion Microfinance is a rural MFI with a pan-India
presence through 500 branches across about 200 under-developed
districts in 18 states of the country. It has cumulatively
disbursed over Rs 5,000 crore having started in early 2010. It
has an outstanding portfolio of Rs 2,050 crore, as at
September 30, 2018, PTI HV DSK
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