ImpactAlpha, April 10 – Chennai-based Veritas Finance serves more than 14,000 small business customers with loans as small as $75. It raised the debt capital from Belgium-based Incofin Investment Management and BlueOrchard. Last year, Veritas closed a $10 million equity investment from U.K. development finance agency CDC.
- Only about 10% of India’s small businesses… have access to formal financial channels, as we reported yesterday in coverage of Delhi-base Namaste Credit’s $3.8 million financing for its marketplace for small-business lending.
