India-based Margdarshak Financial Services has reportedly raised $3m in debt financing from BlueOrchard.
Following the transaction, Margdarshak has created five-year maturity non-convertible debentures to BlueOrchard, according to an article by DealStreetAsia. The funds will be used to help Margdarshak to diversify its funding channels and instruments, the articles state.
The company aims to bring financial inclusion to North India, through loans, development and education. The company is operating in five states in India, through 120 branches spread across various districts.
Margdarshak offers various loans including income generation, secondary, educational, clean energy and product loans.
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