SATYA Micro Capital Secures Rs 1000 Mn from Mizuho Bank, Empowering Women Entrepreneurs

SATYA Micro Capital Limited has raised Rs 1000 million from Mizuho Bank Ltd to expand its operations and boost financial inclusion among women micro-entrepreneurs. This funding marks the first collaboration between the two firms and aims to support SATYA’s innovative lending model and technological advancements.

SATYA Micro Capital Limited, an RBI-registered NBFC-MFI, has successfully raised Rs 1000 million from Mizuho Bank Ltd., a subsidiary of Mizuho Financial Group, Inc. This marks the first time SATYA has been backed by Mizuho Bank, expanding its lender base.

The infusion of debt funding will enable SATYA to scale up its operational model, develop innovative credit offerings, expand its product portfolio, and provide comprehensive business processes for its clients. The funds will also advance financial inclusion among women micro-entrepreneurs, thereby contributing to women's empowerment through microfinance. Vivek Tiwari, MD & CEO of SATYA MicroCapital Limited, stated, 'Our association with Mizuho Bank serves as a driving force for SATYA to further its mission of financial inclusion and women empowerment across India.'

Since its inception in 2016 and operational start in 2017, SATYA has grown significantly, achieving Assets Under Management (AUM) of nearly INR 5000 crore. With over 550 branches across 55,000 villages in 25 states, SATYA leverages technology to induce progressive change for its clients. Currently, it provides affordable microcredit services to over 1.7 million women entrepreneurs excluded from traditional banking due to low and unpredictable incomes. The company's mission is to facilitate socio-economic upliftment and financial self-sufficiency for its clients.

(With inputs from agencies.)