: BASIX Sub-K iTransactions Ltd, a city-based company focused on financial inclusion, today said it has raised Rs 350 million (Rs 35 crore) from global non profit--Accion and Nordic Microfinance Initiative (NMI), which invests in microfinance institutions.
"Sub-K will use a sizeable amount of the funds for business growth by investing in the expansion of its agent banking network and credit facilitation for micro and small businesses. Some of the amount raised will also be dedicated to strengthening its IT platform," BASIX Sub-K said in a release here.
Sasidhar Thumuluri, MD & CEO of Basix Sub-K says, "We are very excited about this investment. Accion and NMI as well as our early investor Michael & Susan Dell Foundation share our vision of a financially included society."
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