Mumbai, 6th March: Mumbai-based Svatantra Microfin was founded by Ms. Ananya Birla at the age of 17. Svatantra Microfin is one of the youngest and fastest growing NBFC-MFI in the country. Till date, it has crossed an AUM of 1 billion USD, 7000 employees, a CAGR of 120% (2015-2022), and is consistently accorded “Great Places To Work”. With a CRISIL A+ rating, Svatantra is the youngest and one of the highest rated organization in the sector. Svatantra has impacted over 18 million lives, and adopted the 100% cashless disbursement method since inception.
On this partnership, Ms. Ananya Birla commented, “It is an honour to associate with the French government and AFD Group, and for Svatantra to be recognized as a key driver for financial inclusion in India. This is the beginning of a long-term relationship to further the cause of gender equity and women empowerment.”
“We are thrilled to start our cooperation with Svatantra Microfin, an important Micro Finance Institution in India, which strives to support development of women-led microbusinesses. Its strategy of achieving responsible financial inclusion of financially excluded populations in rural areas of India with the help of technology, contributes to Sustainable Development Goals achievement and is fully aligned with Proparco’s strategy in the region. We look forward to witness Svatantra’s journey of creating a significant impact in the India.” said Ms. Francoise Lombard, CEO of Proparco.
The signing ceremony was organised in the French Embassy in New Delhi in the presence of French Foreign Affairs Minister Ms. Catherine Colonna, Ambassador of France to India Mr. Emmanuel Lenin, AFD Executive Director Mr. Philippe Orliange and Proparco Regional Director Ms. Diane Jegam.