Samunnati raises €10 million debt from FMO, Triodos

Date posted: Tuesday 12 January 2021

Agri-finance solution provider Samunnati has raised €10 million in debt from FMO – Entrepreneurial Bank and Triodos Fair Share Fund and Triodos Micorfinance Funds, two financial inclusion funds managed by Triodos Investment Management (Triodos IM). FMO and Triodos IM have committed €5 million each in debt to Samunnati Financial Intermediation & Services Pvt Ltd, a non-banking financial company (NBFC) in India, to help the company expand financing and technical assistance to low-income farmers and enterprises throughout the agricultural value chain in India. In a statement, the company said it plans to use the funds to make loans to FPOs and SME Agribusinesses that are currently underserved by the formal financial system.

(The Hindu Business Line)