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Milaap Completes $1.1 million USD Series-A Funding Round

Written by Capria Admin
July 2, 2013

Milaap Social Ventures, South Asia’s leading impact-focused fundraising platform, today announced it has raised an additional 6.6 core INR ($1.1 million USD) in venture funding. Investors included Jungle Ventures, Toivo Annus, Lionrock, Jayesh Parekh & Unitus Ventures. Milaap enables any one in the world to engage in microfinance by lending as little as $25 to India’s working poor.

The new funding will be utilized to enhance the online product experience, expand marketing outreach, and scale operations. Prior to this investment Milaap raised 1.5 crore INR ($250,000 USD) in seed investments from Unitus Ventures, First Light Ventures, Vijay Shekhar Sharma and Rajiv Madhok.

Capria - 2013 07 03 Landscape 8 latest high resMilaap Social Ventures aims to help the more than 48 crore (480 million) Indians mostly living in the rural and semi-urban areas and who are outside of the formal banking system to procure reasonably-priced, life-improving loans for their small businesses, vocational training, or other essential household needs.

To date, Milaap has raised over 4.7 crore INR (US$800,000) in loans impacting over 25,000 lives across 10 states in India. These funds have provided better school infrastructure, employment-linked training for the youth, seed capital for small businesses, access to clean water, and safe lighting for families.

Unitus Capital advised Unitus Ventures on this transaction.



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