Adar Poonawalla-backed Svasti Microfinance to raise Rs 150 crore

Svasti Microfinance, a start-up backed by Serum Institute of In­dia Chief Executive Adar Poonawalla, is in talks to raise Rs 150 crore in the next financial year, said a company executive.
 
This is likely to conclude by the third quarter of FY22, said Arunkumar Padmanabhan, co-founder of Svasti Micro­finance. The company, which supports women micro entrepreneurs thorough collateral-free loans, is in talks with both India and foreign investors to raise this round, Padmana­bhan said.
 
The Reserve Bank of India-licensed firm has just raised Rs 31 crore from its existing investors Poonawalla, Nordic Micro­finance Initiative, and Rajiv Dadlani Group.