CHENNAI: Door Regional Rural Financial Pvt Ltd has raised US$10 million from BlueOrchard Microfinance Fund to boost its expansion plans, the company said on Saturday.
LVL Murthy, managing director and CEO of the company, said the financial services company will use the funds raised to strengthen its efforts in underprivileged communities across the country as it aims to grow by 4 per cent in the current financial year.
BlueOrchard Microfinance Fund is a global investor and the loan was raised by issuing listed non-convertible foreign currency bonds under the external commercial borrowing route.
“In a great start to a very promising year, we are pleased to announce a loan increase from BlueOrchard. The company aims to grow by 40 per cent in the current financial year and is exploring various avenues to enhance liquidity to ensure a sound -Diversified resource profile,'' Murthy said in the company statement.
“Our enhanced partnerships with like-minded foreign funds operating in the IMPACT sector will be instrumental in expanding our reach and empowering more disadvantaged communities by providing them access to critical financial services,” he said.
LVL Murthy, managing director and CEO of the company, said the financial services company will use the funds raised to strengthen its efforts in underprivileged communities across the country as it aims to grow by 4 per cent in the current financial year.
BlueOrchard Microfinance Fund is a global investor and the loan was raised by issuing listed non-convertible foreign currency bonds under the external commercial borrowing route.
“In a great start to a very promising year, we are pleased to announce a loan increase from BlueOrchard. The company aims to grow by 40 per cent in the current financial year and is exploring various avenues to enhance liquidity to ensure a sound -Diversified resource profile,'' Murthy said in the company statement.
“Our enhanced partnerships with like-minded foreign funds operating in the IMPACT sector will be instrumental in expanding our reach and empowering more disadvantaged communities by providing them access to critical financial services,” he said.
