The company said the investment comprises an equal split of equity and debt, each contributing approximately $40 million, reflecting IFC's confidence in Northern Arc's scalable and sustainable business model and India's expanding credit market.
Ashish Mehrotra, MD & CEO, Northern Arc, said, “This investment marks the beginning of a long-term relationship with the IFC and other multilateral companies who believe in the India story and Northern Arc is committed to helping India grow through financial inclusion. Vikas is playing an important role in the story." , said in a statement.
The company said IFC's new funding will assist in expanding Northern Arc's reach to end customers, driving social impact through improving credit access to customers in its focus areas.
“Our partnership with Northern Arc is a key component of our strategy to reach millions of MSMEs and mid-market companies through innovative products by harnessing private sector expertise and finance,” said Wendy Werner, Country Head, IFC Indie. "
By September 30, 2023, Northern Arc has facilitated loan financing of over Rs 1. trillion through its technology platform using data insights derived from big data repositories and domain expertise, highlighting its role in the financial ecosystem. Underlines the role.
Ashish Mehrotra, MD & CEO, Northern Arc, said, “This investment marks the beginning of a long-term relationship with the IFC and other multilateral companies who believe in the India story and Northern Arc is committed to helping India grow through financial inclusion. Vikas is playing an important role in the story." , said in a statement.
The company said IFC's new funding will assist in expanding Northern Arc's reach to end customers, driving social impact through improving credit access to customers in its focus areas.
“Our partnership with Northern Arc is a key component of our strategy to reach millions of MSMEs and mid-market companies through innovative products by harnessing private sector expertise and finance,” said Wendy Werner, Country Head, IFC Indie. "
By September 30, 2023, Northern Arc has facilitated loan financing of over Rs 1. trillion through its technology platform using data insights derived from big data repositories and domain expertise, highlighting its role in the financial ecosystem. Underlines the role.
