and Multiples to invest $230M in Ananya Birla’s Svatantra Microfin, which marks the largest private equity investment in India in the sector
Summary
The current promoter group led by Ms. Ananya Birla will continue to have a significant majority stake.Since starting its operations in 2013, Svatantra, which provides affordable financial and non-financial solutions to women entrepreneurs, has emerged as one of the most differentiated process and technology-driven microfinance entity in India. In line with Multiples ethos of powering new possibilities, we look forward to partnering the Svatantra team in its journey of expanding products, stepping-up technology and enhancing analytics to widen the reach of its transformational impact, said Renuka Ramnath, Founder, MD and CEO, Multiples.The transaction is subject to receipt of statutory and regulatory approvals, including the approval of the Reserve Bank of India and Competition Commission of India.Advent has been investing in India since 2007. Svatantra has been a first mover and shaper of the industry by being the first MFI with 100% cashless disbursements since inception, and also the first to roll out an extensive customer facing app that is conducive to client social behaviours. For 40 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. Some of Multiples distinctive investment partnerships include Vastu Housing Finance, Encube, Zenex, PVR, Delhivery, Dream Sports, Quantiphi, Kogta Financial, ACKO, Niyo, Licious and MoEngage.