Noida-based NBFC-MFI Sindhuja Microcredit has raised $5 million (around Rs 47 crore) in a pre-Series D funding round from existing investors Abler Nordic, GAWA Capital through Huruma Fund, and Oikocredit.
The proceeds will be used to strengthen its capital base, expand lending operations, and improve access to credit for underserved communities, including women entrepreneurs and MSMEs.
Founded by Abhisheka Kumar and Malkit Singh Didyala, Sindhuja Microcredit provides financial services to self-employed women entrepreneurs, traders, shopkeepers, and farmers in rural and semi-urban markets.
The firm claims to have served more than 5 lakh borrowers across 12 states over the last eight years. It currently operates 366 branches and manages assets worth over Rs 1,100 crore.
Sindhuja primarily focuses on borrowers in rural and remote regions through joint liability group (JLG) loans and individual lending products.
Sindhuja had previously raised Series A funding from Carpediem Capital. It later secured Series B funding during the Covid-19 period and a pre-Series C round in 2023 led by Abler Nordic with participation from Carpediem Capital. Its Series C round in 2024 was led by Huruma Fund managed by GAWA Capital along with participation from Oikocredit.