About Ananya Finance For Inclusive Growth
Ananya Finance for Inclusive Growth Private (Ananya) is a registered Non-Banking Finance Company in India. Ananya has inherited Friends of Women's World Banking (India)'s wholesale lending programme in the field of microfinance, livelihood promotion and other sustainable solutions for the huge base of the pyramid population segment in India. Ananya was formed with a vision to achieve universal access to financial services in India through effective partnerships with microfinance institutions and other community-based organizations in India.
Latest Ananya Finance For Inclusive Growth News
Nov 5, 2013
BY Bruhadeeswaran R WWB ISIS Fund previously invested in Ujjivan Financial Services, a.Bangalore-based MFI. Ahmedabad-based Ananya Finance for Inclusive Growth Pvt Ltd, an institutional lender to microfinance institutions (MFIs), has raised Rs 18 crore (just under $3 million) in Series A funding from WWB ISIS Fund (ISIS) and IDBI Bank. This includes Rs 9 crore of Compulsorily Convertible Preference Shares (CCPS) from ISIS and Rs 9 crore of Optionally Convertible Preference Shares (OCPS) from IDBI Bank. VCCircle first reported about Ananya’s impending fund raising plans in June. Ananya is an NBFC promoted by IFIG, a special purpose vehicle floated by Friends of Women's World Banking (FWWB), an apex body providing support to MFIs. Ananya has inherited the FWWB’s wholesale lending programme that goes way back to the 90s. Ananya lends to microfinance institutions which provide loans to low income communities and serves as a link for women with banking institutions and agencies providing managerial and technical support. It also extends its support to organisations working on livelihood creation activities. Ananya has to date provided assistance of Rs 506 crore to over 130 organisations across 17 Indian states. The funding would help Ananya to increase its capital adequacy and garner more funding from banks and financial institutions besides aiding smaller MFIs and social businesses to get more funding from itself. ISIS is a microfinance investment vehicle established by Women’s World Banking to make equity investments in MFIs which are its network members. The network consists of 39 microfinance providers in 27 countries. In the past, it has invested in Bangalore-based MFI, Ujjivan Financial Services. Another investor, IDBI’s relationship with Ananya goes back to its parent organisation, FWWB, for which it was the first lender way back in the 90s, post which FWWB grew to become an apex body for supporting growing MFIs. Vijayalakshmi Das, managing director and promoter director, Ananya, said, “With the increased equity base, we will be able to raise more debt and eventually have many fold impact on the bottom-of-the pyramid sector.” Unitus Capital was the exclusive advisor to Ananya for this transaction. Abhijit Ray, co-founder and managing director of Unitus Capital, said, “The impact created by Ananya over the years has been phenomenal and is a testament to the vision of the founder Ela Ben. This funding to Ananya will go a long way in increasing the flow of funds to the industry and making much larger impact in the near future.” Karel Nierop, investment officer, Triodos Investment Management (co-investment manager of ISIS), said, “This investment by ISIS will enable Ananya to continue its sustainable growth and expand product and service offerings to its clients.” (Edited by Joby Puthuparampil Johnson) IDBI Bank Ltd. IDBI Bank Ltd. is engaged in providing commercial banking services. It offers deposit accounts, such as savings, current, fixed and pension accounts, various loans, including home, education, personal, travel, auto and reverse mortgage loans, institutional banking and NRI services and provides tax, stamp duty and online payments. The firm also offers various corporate banking services, such as project finance, infrastructure finance, syndication, underwriting, and advisory services, carbon credits business, working capital, cash management services, trade finance and rehabilitation finance. IDBI Bank Ltd. was founded in 1964 and is based in Mumbai, Maharashtra. Head office:
Ananya Finance For Inclusive Growth Frequently Asked Questions (FAQ)
Where is Ananya Finance For Inclusive Growth's headquarters?
Ananya Finance For Inclusive Growth's headquarters is located at 101, Sakar 1 Building, Nr. Gandhigram Station, Ahmedabad.
What is Ananya Finance For Inclusive Growth's latest funding round?
Ananya Finance For Inclusive Growth's latest funding round is Series A.
How much did Ananya Finance For Inclusive Growth raise?
Ananya Finance For Inclusive Growth raised a total of $3M.
Who are the investors of Ananya Finance For Inclusive Growth?
Investors of Ananya Finance For Inclusive Growth include IDBI Bank and WWB Isis Fund.
Who are Ananya Finance For Inclusive Growth's competitors?
Competitors of Ananya Finance For Inclusive Growth include Red Fort Capital and 4 more.
Compare Ananya Finance For Inclusive Growth to Competitors
Red Fort Capital provides an investment platform for institutional investors. Its financing vehicles include private equity funds, Red Fort Principal Investing Group, and a Non-Bank Finance Company (NBFC) in India. NBFC provides Business Credit with a quick turnaround time. The company was founded in 2005 and is based in Mumbai, India.
SMC Finance offers financial services. The firm offers loan products such as small and medium-sized enterprises (SME) financing, loans against property, unsecured business loans, personal loans, receivables financing, medical equipment financing, and more. It was founded in 2008 and is based in New Delhi, India.
Jupiter provides a digital banking application. It offers banking services such as savings accounts, investment, and lending services, debit cards, salary accounts, and mutual funds. It facilitates real-time spending breakdowns with insights. The users can track their mutual funds with its Portfolio Analyser. The company was founded in 2019 and is based in Mumbai, India.
Finsall provides insurance premium financing. The company offers its services for employee benefits, medical and personal accident insurance policies, motor vehicle insurance policies, package policies, and construction equipment. It is based in Bengaluru, India.
HDFC Bank (NYSE: HDB) is a financial institution, providing a range of financial products and services throughout India using multiple distribution channels, including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. HDFC's principal business segments are retail banking, wholesale banking, and treasury operations. The company was founded in 1994 and is based in Mumbai, India.
Rang De operates a peer-to-peer lending platform championing microcredit access for rural India. The company enables individuals to invest in first-time borrowers, with a focus on farmers, entrepreneurs, and students from low-income households. It was founded in 2008 and is based in Bangalore, India.