Annapurna Finance is an Odisha-based non-banking finance company that focuses on microfinance and has diversified into secured and unsecured MSME lending. It offers microloans and MSME loans through a pan‑India network, operating in 20 states with 1,372 branches as of March 31, 2024, including 200+ dedicated MSME branches. The company reported assets under management in excess of USD 1.25 billion as of March 31, 2024. Founded in 2009 by Gobind Chandra Pattanaik and Dibyajyoti Pattanaik, Annapurna is positioned as one of India’s leading microfinance institutions. Management says the recent strategic investment will drive AUM growth, support market expansion and reinforce its position in the microfinance segment. The firm is backed by domestic and overseas investors such as Nuveen Global Impact, the Oman India Joint Investment Fund and the Asian Development Bank. Annapurna Finance is an RBI-registered non-banking financial company–microfinance institution (NBFC-MFI) that offers micro-credit loans, home-improvement financing, and MSME loans. Founded in 2009, it has built a pan-India rural distribution network across 20 states and reports over Rs 6,500 crore in assets under management. The company says it will use the new capital to grow its loan book, invest in technology, expand geographically, and advance financial inclusion at scale, with particular focus on women in rural areas. This latest infusion is the fourth capital raise in the last 15 months, taking total capital raised to $100 million. Annapurna lists a range of development and impact investors among its backers and works with advisors such as Unitus Capital. The firm highlights plans to strengthen its tech stack to deliver more efficient, automated and paperless products to the unbanked and underbanked. Annapurna Finance is an Odisha-based microfinance institution that offers micro loans and home improvement loans to individuals and small businesses. It operates a nationwide rural distribution network. The company raised $35 million in its latest capital raise from Encourage Capital, Accion and existing investor Oikocredit. Earlier in the year it also received $30 million from Nuveen Global Impact Fund in March and $20 million from DEG in November, bringing total investments to $85 million this year. Management says the new funding will help provide easier credit access and enable the firm to enter clean energy lending. Gobinda Chandra Pattnaik is quoted as the company's Managing Director in the reporting. Annapurna Finance is an India-based microlender. The company announced a fresh funding round for $30 million. The round was led by impact investor Nuveen Global Impact Strategy. The article did not disclose other investors, the financing instrument, or intended use of proceeds. No operating metrics, valuation, founding year, or past-round details were provided. Annapurna Finance, formerly Annapurna Microfinance, provides microfinance and has expanded into small and medium enterprise (SME) and housing finance. The company has raised ₹155 crore from mid-market private equity firm Oman India Joint Investment Fund (OIJIF). The investment is part of OIJIF’s commitment to provide a total of ₹200 crore to Annapurna over a period of time. This round of capital infusion will help Annapurna Finance grow its microfinance and other portfolios such as SMEs and housing finance. OIJIF is co‑sponsored by the State Bank of India and the State General Reserve Fund of Oman (SGRF). OIJIF recently announced the close of its second fund, OIJIF II, with commitments of $230 million.

Total raised

$175M

Funding rounds

5

Latest round

Equity

Latest activity

May 2024