Venture debt-financing company deploys new approach to address the INR 900 billion credit gap in the SME sector in India.
Mumbai-based IntelleGrow, a venture debt financing company for small and medium social enterprises, today announced that it has raised INR 100 million in Series A funding from the Michael & Susan Dell Foundation. To date, IntelleGrow has disbursed 20 loans totalling INR 150 million to Small and Medium Enterprises (SMEs) across India – from sectors such as waste water recycling, clean energy solutions, low cost irrigation, rural healthcare, rural electrification and non-credit financial inclusion among others. IntelleGrow is promoted by Intellecap which has been actively building an eco-system to support the growth of impact focused businesses over the last decade.
Read the full press release, reproduced on the Artha Blog, here.