Annapurna Microfinace

Annapurna Microfinace

Annapurna Finance was established with a purpose of serving the economically weaker sections of the society, by bringing them to mainstream, providing need based financial services at their doorstep. Learn more
  • Edit
DateInvestorsAmountRound
-

N/A

-

$5.0m

Series B

$4.2m

Series C

INR610m

Growth Equity VC

INR1.6b

Growth Equity VC
*

$19.2m

Growth Equity VC
Total Funding€55.5m

Recent News about Annapurna Microfinace

Edit
More about Annapurna Microfinaceinfo icon
Edit

Annapurna Finance, accessible via ampl.net.in, is a dynamic startup focused on financial inclusion and social development. The company primarily serves underserved communities, including street vendors, people with disabilities, and rural households. Operating in the microfinance sector, Annapurna Finance aims to provide financial services to those who are typically excluded from traditional banking systems.

Annapurna Finance offers a variety of financial products such as microloans, group loans, and specialized loans like the PMSVANidhi Loan for street vendors. These products are designed to empower individuals and small groups to improve their financial stability and quality of life. The company also runs initiatives like SWASTH, which focuses on providing safe water and sanitation to households, and Samarth, which supports people with disabilities in pursuing meaningful careers.

The business model of Annapurna Finance revolves around lending small amounts of money to individuals or groups who then repay the loans with interest. This interest is the primary source of revenue for the company. By focusing on high-impact areas and offering tailored financial products, Annapurna Finance not only generates income but also fosters community development and social welfare.

Annapurna Finance operates in a market that includes rural and semi-urban areas where traditional banking services are scarce. The company has a wide reach with numerous branches and a significant number of employees dedicated to customer service and support.

In summary, Annapurna Finance is a socially-driven microfinance institution that provides essential financial services to underserved communities, helping them achieve financial independence and improve their living conditions.

Keywords: microfinance, financial inclusion, street vendors, rural households, group loans, social development, safe water, sanitation, disabilities, community empowerment.

Tech stack

Group
Tech stackLearn more about the technologies and tools that this company uses.