Incofin India Progress Fund (IPF), a private equity fund, has invested of $10 million into SaGgraha Management Services, a wholly-owned subsidiary of SAVE specialising in microfinance loans through the Business Correspondent( BC ) model.
In March this year, Maj Invest through its fund named as Maj Invest Financial Inclusion Fund III K/s invested $3 million in SAVE Solutions, the Holding Company of SAVE Group.
Ajeet Kumar Singh, Co-Founder and Director of SAVE Solutions Pvt Ltd, said: “Beyond strengthening our ability to expand our loan book, this infusion emboldens our pursuit of delivering high quality financial services in the rural underserved segment. We will benefit immensely from Incofin’s and Maj Invest’s global experience and value creation and eagerly anticipate our collaboration with them.”