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Mumbai, Maharashtra, India

ICRA assigned an MFI rating of A- to Svatantra Microfin Private Limited (Svatantra) a next gen start-up Microfinance Institution, led by Ms. Ananya Birla. The rating establishes Svatantra among the top three companies in the Micro-financing industry. It is a significant achievement for the company in less than three years of its formation and right at the cusp when the Microfinance industry poses a resilience growth of 84% in the GLP as on December 2015.

The robust growth is the resultant of a flexible tenor of the loan product, maturing of branches and expansion into new geographies particularly in deep rural areas (most branches have been opened over last 12 months). Deep rural expansion also implies a staggering 50% first-time borrowers and company’s prudent effort envisaged for the growth of the business. Subsequently, company’s strong position will be secured via seamless amalgamation of disruptive technology, mobility solution like mobile tab, and benchmarks such as cashless disbursement, controlled incentive structure and capped targets per month.

Svatantra is one of the fastest growing companies in the microfinance space and till December GLP has grown by 280%. FY17 the company is expected to grow its portfolio at a CAGR of around 180-190%. Further adding to the accolades and fortifying its vision of creating a sustainable and differentiated banking for the unbanked areas.

Reflecting on firm’s consistent and healthy performance, Ms. Ananya Birla – Founder and Chairman of Svantantra Microfinance and Co-Chairman ASSOCHAM, said, “We are young but are on the path of creating a valuable, very profitable, differentiated institution- MFI right now. With Svatantra, we want to become a small finance bank which would eventually help us expand both vertically and horizontally. Micro-credit will feature as a core offering but we aim to drive differentiation by offering innovation through technology. Our emotion equity and start-up spirit that never dies will take us to unprecedented heights.”

About Svatantra Microfinance Ltd. :
Svatantra was incorporated in 2012 by Ms. Ananya Birla. It started its operations in Mar-13. As on Jan-16, the company operates more than 53 branches in 33 districts of Maharashtra, Madhya Pradesh and Uttar Pradesh. The organisation provides complete and affordable financial and non-financial solutions to rural women who are entrepreneurs themselves. Svatantra is the first microfinance institution to receive the Non-Banking Financial Company – Microfinance Institution (NBFC-MFI) license from the Reserve Bank of India. It is one of the fastest growing MFI with a significant importance to technology-based financial inclusion. The company follows 100% cash-less disbursement through bank transfers. In short span company has made remarkable achievements and won coveted titles that of Leading Women in Microfinance – ii Global Business Information, fastest growing Indian company – International Achievers Conference, and Financial Inclusion and Financial Deepening – Skoch Group.

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