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Vindhya e-Infomedia Raises Funding From ACCION, Michael & Susan Dell Foundation
By siliconindia
Bangalore: Bangalore-based Vindhya e-Infomedia (Vindhya) raised venture funding from social sector investors ACCION International and Michael & Susan Dell Foundation. Funds raised will be used for capital expansion and to fund growth.
Founded in 2006 by Ashok Giri, Vindhya employs and trains people who are differently-abled. Compay's services include loan application processing, document management, online services, end user services, data processing, amog others. Its customers primarily comprises of info-tech and MFIs.
It operates out of its centre in Bangalore and nearly 90 percent of the employees are physically disabled and also lack access to economic and other opportunities.
ACCION is making the investment through its Frontier Investments Group, an early-stage equity fund that invests in breakthrough technologies and disruptive business models that can powerfully enhance the reach and scope of financial inclusion. Shantanu Bhaghwat led the transaction on behalf of Frontier Investments.
The Michael & Susan Dell Foundation are dedicated to improving the lives of children living in urban poverty around the world. With offices in Austin, TX, Cape Town, South Africa and India, the Dell family foundation funds programs that foster high-quality public education and childhood health, and improve the economic stability of families living in poverty. The foundation has committed more than $700 million to global children's issues and community initiatives. It had earlier invested in Swadhaar FinServe, Micro Housing Finance Corp, Ujjivan Financial and Arohan Financial Services.
