Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Phone Reviews
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Phone Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Microfinance start-up Prayaan Capital raises $1.2 million seed funding
  • Business

    Microfinance start-up Prayaan Capital raises $1.2 million seed funding

    Written by
    YANTRA (Bot)
    Edited by
    Ratnakar Shukla
    Last updated on Feb 21, 2020, 07:40 pm
    Microfinance start-up Prayaan Capital raises $1.2 million seed funding
  • Chennai-based Prayaan Capital, a fin-tech start-up that offers microloans to small and medium-sized businesses (SMBs), has received $1.2 million in a seed round of funding.

    The latest investment was led by Accion Venture Lab, which is the seed-stage arm of the US-based Accion International.

    Here's everything you need to know about Prayaan Capital and its fund-raise.

  • In this article
    First, a bit about Prayaan Capital and its services How Prayaan Capital will utilize the funds? Here's what the investor said about Prayaan Capital Accion Venture Lab has invested in 40 start-ups so far
  • Prayaan Capital

    First, a bit about Prayaan Capital and its services

    First, a bit about Prayaan Capital and its services
  • Prayaan Capital was started in 2018 by two seasoned bankers Madhan Mohan and Akash Chelvam in Chennai.

    The company, which offers its services in South India, serves small and medium enterprises (MSMEs) by providing microloans of up to Rs. 50 lakh.

    It has six operational branches in Tamil Nadu and has reportedly disbursed loans worth Rs. 8 crore so far.

  • Future plans

    How Prayaan Capital will utilize the funds?

    How Prayaan Capital will utilize the funds?
  • Now, Prayaan Capital plans to deploy the fresh funds to bolster its technical infrastructure and to expand its operations.

    "We have a vision to make a difference for Indian MSMEs by providing a holistic financial journey that addresses all of their business needs and brings them into the formal financial ecosystem," said Madhav Mohan, the CEO of the company.

  • Quote

    Here's what the investor said about Prayaan Capital

    Here's what the investor said about Prayaan Capital
  • Talking about his latest investment, Michael Schlein, President of Accion, said, "With credit needs that are too small for traditional financial institutions and too large for microfinance lenders, many of India's entrepreneurs remain unable to access the credit they need to grow their businesses."

    He added, "Accion Venture Lab exists to help inclusive fintech start-ups like Prayaan Capital leverage technology to meet this need."

  • Information

    Accion Venture Lab has invested in 40 start-ups so far

  • To note, Accion Venture Lab is a seed-stage investment firm that invests in early-stage fin-tech start-ups that are working to help the under-served small and medium-sized businesses (SMBs). The company is operational in 30 global cities and has invested in over 40 start-ups so far.

  • Tamil Nadu
  • South India
  •  
Latest News
  • US official calls Tim Cook's voting on iPhone suggestion 'preposterous'
    US official calls Tim Cook's voting on iPhone suggestion 'preposterous'
    Business
  • IPL 2021: Woakes, Curran to play for DC against CSK
    IPL 2021: Woakes, Curran to play for DC against CSK
    Sports
  • IPL 2021, CSK vs DC: Rishabh Pant elects to field
    IPL 2021, CSK vs DC: Rishabh Pant elects to field
    Sports
  • iPhone 12 leads the top-10 bestselling smartphones' list globally
    iPhone 12 leads the top-10 bestselling smartphones' list globally
    Science
  • Expect one lakh active COVID-19 cases by April-end: MP CM
    Expect one lakh active COVID-19 cases by April-end: MP CM
    India
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Chris Lynn Samsung Virat Kohli
Rohit Sharma Cricket News Mahendra Singh Dhoni YouTube Hollywood News WhatsApp Bollywood News Real Madrid ISRO Yoga
Honda Batman Football News BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Apple Tesla
Royal Challengers Bangalore Toyota Fashion Tips Amit Shah Mercedes Sidharth Malhotra Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV
Smart TV Marvel Comics Avengers Neha Kakkar
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021