Fusion Microfinance Raises Series E Funding from Warburg Pincus

By SiliconIndia   |   Wednesday, December 5, 2018
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Fusion Microfinance, one of the leading Non-Banking Financial Companies raises Series E investment round of Rs. 150 crores led by Warburg Pincus, a leading global private equity firm. The funding amount will be used to expand Fusion’s capital base to support its organic growth. The company also intends to selectively evaluate potential acquisition opportunities and lead the potential consolidation in the industry.

Commenting on the recent funding, Devesh Sachdev, Founder &CEO, says, “Since inception, Fusion has done significant work in financial inclusion, women empowerment and entrepreneurship. We are very excited about our partnership with Warburg Pincus. This investment would support our endeavour to develop into one of India’s most preferred companies in the financial inclusion space. We are thankful to Incofin, NMI, BIO and SIDBI for having faith in us early on and being supportive of our journey thus far”.

Established in 2010, Fusion Microfinance is a rural micro-finance institution with a pan –India presence through 500 branches across about 200 under-developed districts in 18 states.  It is also the youngest company amongst the top 10 pure play microfinance companies in the country. Since its inception, it has cumulatively disbursed over Rs. 5000 crores and serves over 1.3 million customers across India.

Marking its first investment in microfinance sector in India, Warburg has raised 17 private equity funds, which have invested more than $68 billion in over 825 companies in more than 40 countries. “Fusion has had a remarkable journey to become a leading microfinance company in a relatively short period of time. It has demonstrated the ability to profitably scale up in a diversified manner. The company is led by a very talented team, has a robust operating platform and is very well capitalized to become a leader in the financial inclusion space. Warburg Pincus looks forward to backing Devesh and the management team in its next phase of growth”, comments, Narendra Ostawal, MD, Warburg Pincus.

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