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Kolkata-based microfinance company Arohan has raised Rs 60 crore from a fund managed by Tano Capital, an alternate asset management firm founded in 2004.
Arohan has close to Rs 400 crore in assets under management across 104 branches spread over 38 districts in West Bengal, Bihar, Jharkhand, and Assam, the company said in a statement.
“Arohan is our first microfinance investment in India till date and given our demographics we believe that financial inclusion will be a big play in the years to come," said Piyush Goenka, Investment Director, Tano Capital.
The micro finance industry in India, which is worth more than Rs 35,000 crore of outstanding portfolio across 35 million clients, serves the underserved and the most financially excluded sections of society.
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