In recent news, Svatantra Microfin, led by Ananya Birla, has struck a significant financing deal in India’s microfinance sector. The company has entered into a definitive agreement with Advent International and Multiples Private Equity to raise $230M in equity. This investment follows Svatantra’s acquisition of Chaitanya India Fin Credit Limited, positioning the merged entity among the largest non-banking microfinance companies in India.
Ananya Birla expressed gratitude by saying that “This investment by Advent and Multiples marks a momentous occasion for us. My team and I are grateful to have investors on board who share our vision. This transformative era for Svatantra, propels us towards our goal of becoming the foremost and most impactful microfinance institution, creating a conducive environment for entrepreneurs who fuel India’s growth story.”
While Shweta Jalan, Managing Partner, Advent International said “We are thrilled to announce Advent’s investment in Svatantra. We believe the microfinance sector serves as a cornerstone for financial inclusion for women entrepreneurs in rural areas, and Svatantra is uniquely placed to create one of the largest and most resilient microfinance institutions”
“In line with Multiples’ ethos of powering new possibilities, we look forward to partnering the Svatantra team in its journey of expanding products, stepping-up technology and enhancing analytics to widen the reach of its transformational impact,” said Renuka Ramnath, Founder, MD and CEO, Multiples
About Ananya Birla:
Ananya Birla, a multifaceted Indian personality known for her roles as a singer, songwriter, and entrepreneur, has made significant strides in various fields. Since her debut single in 2016, she has garnered over 350 million streams and collaborated with renowned artists such as Sean Kingston, Afrojack, and Mood Melodies. Notably, she holds the distinction of being the first Indian artist with an English-language single to achieve platinum status in India, with five of her singles attaining platinum or double platinum status.
In 2020, Ananya Birla made headlines by becoming the first Indian to sign with Maverick Management in Los Angeles. Her releases “Let There Be Love” and “Everybody’s Lost” marked a milestone as she became the first Indian artist featured on the American national top 40 pop radio show, Sirius XM Hits.
Beyond her music career, Ananya Birla is also recognized for her entrepreneurial endeavors. She is the founder of Svatantra Microfin, a company dedicated to providing microfinance to women in rural India. Additionally, she has founded Ikai Asai and co-founded Mpower. Her contributions to business and entrepreneurship have earned her prestigious awards, including the ET Panache Trendsetters of 2016 award for Young Business Person, and recognition as one of GQ’s Most Influential Indians of 2018.
In 2020, Ananya launched the Ananya Birla Foundation, focusing on supporting various causes such as mental health, equality, education, financial inclusion, climate change, and humanitarian relief efforts.