What is RGVN Microfinance?
RGVN (North East) Microfinance Ltd. is a Public Limited Company and a registered Non-Banking Financial Company (NBFC) dedicated to serving the North Eastern region of India. Headquartered in Guwahati, the company aims to impact 5 lakh clients by providing enhanced access to health, education, and livelihood opportunities. As of December 31, 2016, RGVN(NE)MFL operated a network of 136 branches across seven Northeastern states, serving approximately 3.53 lakh borrowers with a loan outstanding of Rs. 582 crore and maintaining a strong on-time repayment rate of 97.17%. Microfinance is recognized as a critical tool for poverty alleviation, and RGVN(NE)MFL's efforts in the Northeastern region have been supported by a diverse group of Indian and overseas investors. Beyond credit provision, the company offers 'credit plus' services, including financial literacy, health camps, technical assistance for farming and animal husbandry, skill-building, and awareness programs on environmental issues, women's leadership, health, nutrition, and legal rights, reflecting a client-centric approach focused on both growth and social development.
How much funding has RGVN Microfinance raised?
RGVN Microfinance has raised a total of $7.7M across 1 funding round:
Unspecified
$7.7M
Unspecified (2015): $7.7M, investors not publicly disclosed
Key Investors in RGVN Microfinance
Small Industries Development Bank of India
Small Industries Development Bank of India (SIDBI) is a key financial institution supporting the growth of micro, small, and medium enterprises in India, likely providing crucial debt financing and strategic guidance to RGVN Microfinance.
North Eastern Development Finance Corporation Ltd
North Eastern Development Finance Corporation Ltd (NEDFi) is an institution focused on promoting economic development in the North Eastern region, suggesting a strategic alignment with RGVN's mission and regional focus.
Norwegian Microfinance Initiative
Norwegian Microfinance Initiative (NMI) is an impact investor specializing in microfinance globally, indicating a focus on social returns and sustainable financial inclusion for RGVN Microfinance.
What's next for RGVN Microfinance?
The substantial enterprise-level funding RGVN Microfinance has attracted indicates a strong market confidence in its mission and operational model. This capital infusion is likely to fuel the company's expansion plans, enabling it to reach its target of impacting 5 lakh clients and further penetrate the underserved North Eastern region. Strategic investments of this magnitude typically support scaling operations, enhancing technological infrastructure for better service delivery, and potentially broadening the scope of 'credit plus' services. RGVN's focus on social development alongside financial inclusion positions it favorably for continued growth and impact, potentially attracting further strategic partnerships and debt financing to solidify its market leadership in microfinance within its operational geography.
See full RGVN Microfinance company page
