SAVE Solutions India’s leading rural financial services group and SaGgraha, announce their synergetic collaboration. SAVE has acquired South India-based SaGgraha Management Services, which is a strategic move by the Company with an aim to strengthen its mission for deeper financial inclusion across India.
Bangalore based SaGgraha caters to the base of the pyramid population, with the mission to contribute to India’s goal for financial inclusion. It currently offers group microfinance loans and has immediate plans to further diversify into secured and unsecured MSME loans. SaGgraha is promoted by a team of three domain-expert professionals with experience in finance, operations, technology, and industry-wide networking.
Through this acquisition, SAVE, with its corporate office in Delhi, makes a ready and deep penetration into the diverse South Indian rural markets. The company, last year, had also acquired a Housing Finance Company, New Habitat Housing Finance and Development Limited, to offer its customers all-round financial products.
Ajeet Kumar Singh, Founder Director, MD and CEO of SAVE Solutions said, “The acquisition of SaGgraha is transformative in advancing SAVE's strategic growth priorities in the South Indian financial market. SaGgraha is a renowned regional player, and this association will bring immediate synergies in the areas of governance, technology, operations, and diversification of portfolio. We sincerely thank all our stakeholders for their continued support, especially Incofin’s team for their leadership and Maj Invest’s team for their guidance on the transaction.”