Chennai-based Equitas Micro Finance India has raised capital worth Rs 50 crore in the second round of funding from three investors. The present issue will help strengthen the capital base of the company, which would be further leveraged through borrowings.
Bellwether Microfinance Fund, India Financial Inclusion Fund and MVA Ventures have subscribed to the company’s convertible preference shares. The instrument will be converted into equity by August 2009.
