BOPA invests USD 1.9 M in equity in Pahal Financial Services Private Ltd, India
BOPA (Base of Pyramid Asia) has concluded a USD 1.9 M equity investment into Pahal Financial Services Private Limited (PFSPL), which is a Non Banking Finance Company MFI in India. Pahal had as of 31 August 2018 about Rs. 350 crores of Assets under Management (AUM) (Around USD 50 million) and a customer base of nearly 175,000 customers across the states of Gujarat, Rajasthan, MP and Maharashtra. The PAR 30 of the company is at 0.6%. The company will use the capital to further expand outreach in existing and new geographical areas.
Mr. Christian Andersen, CEO of BOPA, speaking on this development, said “BOPA is very happy to become a partner of Pahal, which is an impressive regional NBFC-MFI with a strong commitment to social impact. We feel that BOPA and Pahal are very well aligned and look forward to work with Pahal to support growing its scale and impact”. Download the full press release here.