Mesofinance Media - News #South AsiaMesofinance Media - News #South Asiahttps://www.mesofinance.org/news/tag/south-asiaFri, 02 Jan 2026 09:53:26 -0800http://zoho.com/sites/<![CDATA[BlueOrchard, Tata, Prime Venture Partners, SIDBI participate in $11m equity round for FinAGG to expand insurance, loans for MSMEs in India]]>https://www.mesofinance.org/news/post/blueorchard-tata-prime-venture-partners-sidbi-participate-in-11m-equity-round-for-finagg-to-expand-iFinAGG raises $11m for insurance, loans in India]]>

BlueOrchard Impact Investment Managers, a unit of UK-based Schroders Group, recently placed USD 6 million in equity from its InsuResilience Investment Fund II into FinAGG Technologies, a provider of cash flow financing and insurance to micro-, small and medium enterprises in India. Tata Capital, SIDBI (Small Industries Development Bank of India), and Prime Venture Partners invested additional funds totaling USD 5 million in the Series A round.


FinAGG CEO Nipun Kohli said, “We are excited to… further drive the penetration of climate insurance to our clients.” Mahesh Joshi, BlueOrchard’s Head of Private Equity Investments in Asia, described the overall aim as to “improve access to financial services, drive growth and improve the resilience of the vulnerable MSME sector in India.”


In support of the investment, IIF will provide technical assistance to FinAGG to help it boost its financial literacy efforts. Further, a representative of the fund will take a seat on the FinAGG Board of Directors.


Author: Pranav Agarwal

]]>Wed, 14 Feb 2024 10:14:31 -0500<![CDATA[RBI blocks fintech Paytm from accepting deposits into its mobile money wallets as of March 1]]>https://www.mesofinance.org/news/post/rbi-blocks-fintech-paytm-from-accepting-deposits-into-its-mobile-money-wallets-as-of-march-1Paytm told to cut major services in India]]>
The Reserve Bank of India, citing “persistent non-compliance” with rules relating to “falsifying customer information and money laundering” has told Paytm, a fintech with 330 million users in India, that it may no longer accept deposits into its customers’ e-wallets. The company has denied wrongdoing.

Customers will continue to be able to use their balances after the February 29 deposit deadline. They also will continue to have access to the Paytm app to make transfers among third-party financial services providers.

Paytm’s mobile money wallet allows balances up to the equivalent of USD 2,400. The firm’s services include allowing businesses to accept electronic payments as well as helping customers access payment cards and third-party services such as insurance, loans, investment products, bill payments, and event and travel tickets. Paytm is a publicly traded firm that was founded in 2010.
]]>Tue, 13 Feb 2024 12:07:05 -0500<![CDATA[Satin Creditcare raises $30m in equity to expand MSME, housing lending to women in India]]>https://www.mesofinance.org/news/post/satin-creditcare-raises-30m-in-equity-to-expand-msme-housing-lending-in-india$30m for lending in India]]>
Satin Creditcare, a lender in India, recently secured the local-currency equivalent of USD 30 million through a qualified institutional placement (QIP) from Indian firms including ICICI Prudential Life Insurance, Bandhan Mutual Fund and Bajaj Allianz Life Insurance. Among Satin Creditcare’s plans are to expand its subsidiaries, Satin Finserv - a lender to micro-, small and medium-sized enterprises (MSMEs) - and Satin Housing Finance. In addition to lending to smaller firms and for housing improvements, the institution also issues wholesale funding to other microlenders. Established in 1990, Satin Creditcare has since grown to operate 1,300 branches serving 3.2 million women. For the quarter ending September 2023, the company reports having brought in gross income of USD 65 million on total assets of USD 1.1 billion.

Author: Renata Samadova

]]>Tue, 16 Jan 2024 16:29:36 -0500<![CDATA[Fasal raises $12m in equity to grow agritech platform in India; expand to Southeast Asia]]>https://www.mesofinance.org/news/post/fasal-raises-12m-in-equity-to-grow-agritech-platform-in-india-expand-to-southeast-asia$12m for ag in India]]>
Fasal, a firm that provides technology services for farmers in India, recently raised a total of INR 1 billion (USD 12 million) from UK-based TDK Ventures; the UK government’s British International Investment (BII); and three India-based firms: ITI Growth Opportunities Fund, Navam Capital and Aureolis Ventures. The platform aids farmers in procuring seeds and fertilizer, adopting “precision farming” techniques, and selling crops. The firm’s business-to-business brand, Fasal Fresh, delivers wholesalers “sustainably grown, fully traceable” fruit and other produce from farmers working a total of 75,000 acres. Farmers using the platform reportedly have enhanced their yields by as much as 30% while reducing water usage, pesticide usage and emissions. TDK and BII led the equity funding package, which was Fasal's Series A round.

Author: Rohan Kumar Agarwal

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