Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Mumbai: Northern Arc Capital, a non-bank lender, has raised $75 million (approximately Rs 620 crore) in debt from Dutch development bank FMO.
This funding comes through the issuance of senior secured, listed Non-Convertible Debentures (NCDs).
With this transaction, FMO's total exposure to Northern Arc Capital increases to $125 million. Earlier in April, Northern Arc raised $40 million from IFC.
The newly acquired funds will be utilized for retail micro-loans, MSME loans, and green loans, supporting the company’s goal of fostering inclusive economic growth and environmental sustainability.
Ashish Mehrotra, managing director and CEO of Northern Arc Capital, emphasized the aim to promote sustainable economic growth and financial inclusion.
The debentures, which have a tenure of five years, will be listed on the BSE.
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