Satya MicroCapital raises $60 million from Japan's Sumitomo Mitsui Banking Corporation
The funding will help the New Delhi-based micro loan provider to expand its portfolio. Satya has assets under management of nearly Rs 5000 crore. The fund is raised at around 11% rate, an official with the micro lender said. The lender has its average cost of funds at 12%. Established in October 2016, the lender has built a network of over 500 branches across 25 states.
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