New Delhi [India], October 28 (ANI/NewsVoir): Dia Vikas Capital Pvt. Ltd., the India based subsidiary of Opportunity International Australia Limited has exited from the RBI registered NBFC-MFI SATYA MicroCapital Ltd. Dia was the initial institutional investor in SATYA.
The partnership lasted for 5 years, during which SATYA received equity infusion from Dia in three tranches.
It is also prudent to mention here that at present, SATYA is at the cusp of its expansion with strengthening of its business across corporate development, operations, customer success, marketing, and IT transformation. It is a testimony of SATYA's performance, and the faith imposed by investors that Dia Vikas Capital could make approximate 5X return on its investment.
Sharing his views, Vivek Tiwari (MD, CIO & CEO - SATYA MicroCapital) stated, "I extend my heartfelt wishes and gratitude to Dia Vikas Capital for the trust they have fostered in our organization since inception. This is indeed one of the most remarkable exits any investor has secured in Indian Microfinance Industry post outbreak of COVID-19 in 2020. Our ambition is to consistently keep making positive impact and make a difference in the lives of micro entrepreneurs. We are grateful to Dia Vikas Capital that it has always aligned and shared our vision of socio economically uplifting the lives of people at the bottom of the pyramid."
Dia Vikas Capital's Chairman, Scott Walters, said, "We feel privileged to have been able to work with Vivek, his team, and the SATYA family as they 've made a difference to micro entrepreneurs."
"To witness the enthusiasm and development of SATYA to become a major force has been an exciting journey. Moving forward, Dia Vikas whilst not being an equity partner, remains committed to supporting SATYA as it continues to empower those living in poverty and assist them in achieving economic self-sufficiency."
Headquartered in the capital city of New Delhi, with the first loan disbursement at the Sikandrabad branch in the Bulandshahr district of Uttar Pradesh, SATYA started its operational journey in January 2017. With the foremost and fundamental goal of empowering rural women, both digitally and financially, SATYA has come a long way since its incorporation.
SATYA has recently crossed the milestone of reaching 10 lakh active clients by offering collateral free micro credit services through cashless transactions to women entrepreneurs living in rural semi urban areas of India. Satya has achieved several milestones since its inception on 28th October 2016.
Having an impressive loan disbursement portfolio of worth more than Rs 6,800 Crores and currently having more than Rs 3,250 Crores Assets Under Management. SATYA aims to facilitate socio economic assistance to five million households by the year 2025. Till date, SATYA has established its terrestrial footprints in more than 37,000 villages across 21 states.
SATYA is integrally concentrated towards providing financial services to people generally excluded from traditional banking channels because of their low, irregular, and unpredictable income. It aims to set up and boost the provision of easily accessible, cost effective and sustainable financial services to the impoverished to build their financial capacity and ability to grow to financial self-sufficiency.
In addition to yielding financial aid to unbanked sections of the population, SATYA MicroCapital consistently associates with institutions of the same wavelength to disseminate the importance of digital and financial literacy in rural areas.
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