22 SEPTEMBER, 2022
The USD 25 million (INR 196 crore) Series B funding round in Light Microfinance was led by British International Investment (BII) with existing investors Nordic Microfinance Initiative (NMI), Triple Jump and Incofin participating.
Light Microfinance is one of the fastest growing MFIs in India and aims to provide responsible financial services for low-income families excluded from the financial system in India, using a strong technology platform.
The Series B funding will be utilized for geographical expansion into new states to diversify the company’s product lines and continued investments in technology and digital initiatives.
All of Light’s existing investors— NMI, Triple Jump BV and Incofin IM—participated in the round, having previously cooperated in a USD 10 million (INR 75 crore) Series A funding round in July 2021.