FMO provides $25m debt financing to Indian NBFC Northern Arc
April 8, 2021
Dutch development bank FMO has provided debt financing of $25 million to Indian non-banking financial company (NBFC) Northern Arc, it said in a statement.
The Chennai-based digital debt platform said it will use the capital for on-lending to financial institutions that focus on women borrowers, micro-entrepreneurs and SMEs.
This is the fourth investment secured by Northern Arc in the last 12 months. It has attracted debt financing from global development financial institutions and impact investors including US International Development Finance Corporation, Asian Development Bank and Calvert Impact Capital.
In its statement, FMO said its investment will benefit microfinance borrowers in both urban and rural areas, including under-banked households and small businesses, as well as microlenders catering to women, all of whom have been hit hard by the COVID-19 crisis.
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Paidy Raises US$120 Million in Series D Round
April 2, 2021 GMT
TOKYO, April 2, 2021 /PRNewswire/ Paidy Inc., Japan’s leading “Buy Now, Pay Later” (BNPL) service provider, is pleased to announce that it completed the Series D round of funding by March 31, 2021, raising a total of US$120 million from JS Capital Management LLC, Soros Capital Management LLC, Tybourne Capital Management Ltd., and Wellington Management. Since late 2020, Paidy has additionally completed the loan facilities set up by upsizing the warehouse facility with Goldman Sachs, newly establishing the secured loan facility with Sumitomo Mitsui Banking Corporation and the other warehouse facility through the syndication led by Mizuho Bank, Ltd. This capital increase and additional debt financing from the financial institutions bring total capital raising since the company’s founding to US$585 million (of which, equi