Svasti Microfinance raises $4.8 million to extend financial services to low-income Indians

  • Nordic Microfinance Initiative, Serum Institute of India’s Adar Poonawalla and other investors backed the Mumbai-based microlender.
  • The new funding will provide exits for early investors, which include Michael & Susan Dell Foundation, Bamboo Capital Partners, venture capitalist Sajid Fazalbhoy and angel investor Rajiv Dadlani.

Indian startup Groww raises $6.2 million to help millennials invest

  • “There are 200 million people with investable income in India, but only 20 million investors. The only way to bring the next 180 million on board is by making investing simple,” Groww’s Lalit Keshre told TechCrunch.