"Our investment is in line with the company's mission of creating a deep social impact by providing finance to women micro borrowers. Ananya was promoted by FWWB-I, (a not-for-profit promoted by SEWA), and is backed by foreign impact investors Gojo & Co, Japan, and C4D Partners, Netherlands. It also extends loans and capacity-building support to smallholder farmer FPOs and start-ups in the renewable energy and sustainable landscapes sectors. It is now helping its small MFI partners with tech upgrades and new product introductions through BC / Co-lending partnerships. He further stated that the equity investment by Ananya showed its commitment to supporting its long-standing small microfinance partners.Īnanya Finance for Inclusive Growth has been extending debt capital and capacity-building support to small and mid-sized MFIs. It will strengthen Prayas to serve more women entrepreneurs who form the bottom of the economic pyramid, especially in rural and semi-urban areas", said Bhadresh Rawal, the Promoter Director of Prayas Financial Services Pvt Ltd. "The new capital investment will help Prayas in diversifying to new geographies and scale up its operation. Prayas has been serving women micro-borrowers in rural and urban backward areas of Gujarat and Rajasthan and the tribal areas of Madhya Pradesh through its network of 30 branches and plans to expand to 150 branches. Both the lenders are registered with RBI, Ananya as an NBFC, and Prayas as an NBFC-MFI.Īnanya initially picked up a ~6 per cent stake in Prayas and after receiving the requisite approvals from the regulator, has increased its stake to 55 per cent. Ananya has announced acquiring a majority stake in its long-term microfinance partner Prayas Financial Services Pvt Ltd. Impact lender, Ananya Finance for Inclusive Growth Pvt Ltd, one of the NBFCs of India is set to expand its span of operation by joining hands with Prayas Financial Services Pvt Ltd, a Micro Finance company.
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