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Veritas Finance secures $8.5 million debt funding for small business lending

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.

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