Sindhuja Microcredit Raises $5 Million to Enhance Lending Operations

Noida-based NBFC-MFI Sindhuja Microcredit has successfully secured $5 million (approximately Rs 47 crore) in a pre-Series D funding round. This funding comes from existing investors Abler Nordic, GAWA Capital via the Huruma Fund, and Oikocredit. The funds will be allocated to fortify its capital structure, broaden its lending operations, and enhance credit accessibility for underserved groups, particularly women entrepreneurs and MSMEs.

Founded by Abhisheka Kumar and Malkit Singh Didyala, Sindhuja Microcredit focuses on delivering financial services to self-employed women entrepreneurs, traders, shopkeepers, and farmers within rural and semi-urban markets. The firm reports having supported over 5 lakh borrowers across 12 states over an eight-year period. Currently, it operates 366 branches and oversees assets exceeding Rs 1,100 crore.

Sindhuja Microcredit primarily targets borrowers located in rural and isolated areas through joint liability group (JLG) loans and individual lending products. The firm has previously raised Series A funding from Carpediem Capital, and has successfully secured Series B funding during the Covid-19 pandemic. In 2023, a pre-Series C funding round led by Abler Nordic included participation from Carpediem Capital. The Series C funding round in 2024 was managed by Huruma Fund, alongside contributions from Oikocredit.