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.

Petal raises $30 million for alt-credit cards

  • New York-based fintech firm Petal has raised $30 million for its mission to “make credit honest, simple, and accessible” from a long roster of investors, including PayPal founder Peter Thiel’s Valar Ventures and socially-focused investors Third Prime Capital and the Social Entrepreneurs’ Fund.