Ananya Finance Secures $13 Million for Financial Inclusion Expansion

Ananya Finance for Inclusive Growth has raised $13 million in equity capital from Gojo & Company Inc. to advance its goal of providing micro-loans to underserved women. The investment will help the company expand its market reach and support economic ventures in over 100 locations.

Ahmedabad (Gujarat) [India], May 23: Ananya Finance for Inclusive Growth Pvt. Ltd., a gender-smart impact lender, has raised USD 13 million in equity capital from its majority shareholder, Gojo & Company Inc. (''Gojo''). Gojo, a Japan-based holding company, focuses on promoting financial inclusion through investments across Asia. The company announced that USD 8 Mn will be a primary infusion to meet the company's growth plans while USD 5 Mn will be used to give its long-standing shareholder, C4D Partners, a full exit.

Ananya Finance provides micro-loans to borrowers, empowering them to initiate and sustain economic ventures. Notably, 98% of Ananya's borrowers are women. To further its mission, Ananya recently acquired a majority stake in Prayas Financial Services Pvt. Ltd., a non-banking financial company-microfinance institution (NBFC-MFI) that offers loans to women in underserved households and informal micro-enterprises. Combined with its subsidiary Prayas Finance, Ananya has expanded its branch network to over 100 locations and now serves over 100,000 direct retail clients.

Gaurav Gupta, Managing Director of Ananya Finance, expressed enthusiasm about the new investment from Gojo, stating, ''We are excited to grow our business further with the new investment from Gojo. The investment indicates robust investor confidence in Ananya's business model and potential for growth. The funds from this round will support our efforts toward amplifying the company's market reach. While C4D Partners has been an involved investor and supported our business beyond just capital, they'll be making a profitable exit with this round. We're happy to be associated with and supported by our investors. The year has begun on an optimistic note, and we're confident of continuing this streak with more business milestones.'' Sanjay Gandhi, Co-Founder and Chief Investment Officer at Gojo, added, ''Since our initial investment in 2018, we have witnessed Ananya's growth and commitment to delivering essential financial services to underserved communities. We are confident that Gojo's latest capital infusion will further empower Ananya to expand their impact. We look forward to celebrating the many milestones that Ananya will undoubtedly achieve in the future."

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