New Delhi-based SAVE Microfinance raises Rs 40 crore from to boost its microfinance business

New Delhi-based Microfinance institution SAVE Microfinance has raised Rs 40 crore in debt funding, comprising Rs 25 crore from Indian Overseas Bank (IOB) and Rs 15 crore from Northern Arc Capital.

The firm will use the fresh funding to scale its microfinance operations, enhance customer outreach, and meet the growing demand for affordable credit across its operational geographies.

"We are grateful to Indian Overseas Bank and Northern Arc Capital for their continued trust and partnership. This funding reflects the confidence of leading financial institutions in our financial discipline, portfolio quality, and governance standards. It will further strengthen our ability to expand responsible lending, deepen our outreach, and empower more underserved families and entrepreneurs with timely access to credit," said Pintu Kumar Singh, Chief Financial Officer, SAVE Microfinance.

SAVE Microfinance said it is actively exploring additional borrowing opportunities under the Credit Guarantee Scheme for Microfinance Institutions (CGSMFI-2.0). The initiative is expected to further diversify the company's funding sources, improve access to institutional capital, and support its expanding loan portfolio.

"At SAVE, we believe financial inclusion is a powerful catalyst for social and economic transformation. This funding is a strong endorsement of our vision, governance, and commitment to responsible finance. The support from Indian Overseas Bank and Northern Arc Capital will enable us to serve more underserved communities while strengthening our institutional capabilities. We also look forward to leveraging initiatives such as CGSMFI-2.0 to accelerate our growth journey and extend the reach of inclusive financial services across India," said Ajeet Kumar Singh, Managing Director & Co-founder, SAVE Group.