Satin Creditcare Network said it has received $9.4 million external commercial borrowing (ECB) funding anchored by responsAbility Investments, an international impact asset manager. This is the second round of ECB funding by foreign institutions in the company. The funds raised will be used for further growth in AUM of the company. The first ECB investment in the company came from World Business Capital. H P Singh, chairman & MD of the company, said the investment is a sign of continued trust in the company by responsibility Investments and the Indian MFI sector. These investments will help the company manage its medium term funding and in the liability mix, he added. He said the company is now planning to expand its geographical footprint and these investments will help it boost the process.
