Tata, Kotak Mahindra Old Mutual Insurance and Edelweiss Tokio Life Insurance have contributed to a funding round for microfinance provider Fincare.
India-based financial services firm Fincare Business Services closed a Rs 5bn ($75m) funding round on Tuesday that featured Tata Opportunities Fund, the private equity arm of industrial conglomerate Tata.
Insurance providers Kotak Mahindra Old Mutual Life Insurance and Edelweiss Tokio Life Insurance also contributed to the round, as did government-backed financial institution Small Industries Development Bank of India, TA Associates, True North, LeapFrog Investments and unnamed additional investors.
The transaction is made up of primary and secondary commitments, though details…
