The Huruma Fund, managed by GAWA Capital and financed by the European Union, AECID, COFIDES and private investors, has closed its third investment in India with the acquisition of a minority stake in Sindhuja Microcredit worth €8 million.
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Sindhuja Microcredit offers loans to low-income households, with a focus on women and farmers. The entity operates in nine states in northern India and has a network of more than 220 branches. Currently, it serves more than 300.000 women and aims to reach more than 2,5 million by 2025.
Sindhuja has positioned itself as one of the fastest growing microfinance institutions in India. Among its objectives is the launch of a specific product for small farmers, with the goal of serving more than 1 million of them in 2028.
Tomás Ribé, Investment Director of GAWA Capital, highlighted: "We are very pleased to partner with Sindhuja and support its expansion into new geographies and products. We believe that Sindhuja can provide the necessary access to agricultural financing for smallholder producers, a highly underserved segment in India."
The Huruma Fund completes its third capital investment, thus reaching
the 120 million euros invested
The director of Alliances for Development of COFIDES, José Carlos Villena, has stated: "The investment of the Huruma Fund in this highly digitalized financial institution is aligned with the priorities of Spanish Cooperation, since it will especially contribute to supporting the launch of individual credit products, improving access to financing for women in rural areas. (100% of clients)".
Finally, Hervé Delphin, ambassador of the Delegation of the European Union in India, welcomed the investment: "The Huruma Fund illustrates how #TeamEurope deploys innovative financing mechanisms to attract much-needed private investment in partner countries. Experience has shown that the EU's contributions, by providing guarantees and reducing the risks of investors, allow financing to be increased in a 1:9 ratio. We are proud that this serves an investment that will end up facilitating access to financing for small farmers, especially women, so that they can expand their activities and improve their income." .
