Dealflow | August 14, 2015

Accion, Leapfrog and Lok Invest $25M in IFMR Holdings in India

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From The Mint:

Mumbai–Financial inclusion service provider IFMR Holdings Pvt Ltd. said on Thursday it has raised $25 million in equity from Accion International, LeapFrog Investments and impact investment fund Lok Capital.

Accion is investing $12.5 million of the total, LeapFrog Investments $9 million and Lok Capital $3.5 million.

The company provides access to finance through well-functioning markets for low-income households. It provides its services through micro-loans, small business finance, rural finance for commercial vehicles, and rural channels that provide credit, insurance and pensions.