Svatantra Microfinance

Svatantra Plans to Have 190 Branches

Friday 30th June, 2017

Article Details
Publication  The Economic Times
Source  Bureau
CCM  18.57
Edition  Mumbai
Supplement   NA
MAV  176,415
Language  English
Page  14
Circulation  234,000

  • View Image
  • View PDF

Svatantra Plans to Have 190 Branches
Our Bureau
Mumbai: Mumbai-based mi-crofinance company Svatantra Microfinance plans to expand its footprint to around 190 branches spread across 10-12 states, from the 85 units it has at present. The medium-scale MFI also looks to build up a balance sheet of ?500 crore over the next two years.
"We have seen a compound annual growth rate of 220% since inception, and have already touched five states," said Ananya Birla, founder of Svatantra Microfinance. "We plan to expand in scale and make the business more sustainable through theuse of technology."
The company launched a smartphone-based digitised solution named 'Saathi' which will digitise the process starting from loan origination, loan management to disbursals and collection. The company's director Vineet Chattree said they were open to both organic and inorganic expansion growth. It currently serves 2 lakh beneficiaries and operates in 11,000 villages.
"We are evaluating products like individual lending, affordable home finance and even small and medium enterprise lending products," he said. Svatantra is currently funded by nine financial institutions, including public and private sector banks and NBFCs.