Northern Capital a Non-Banking Finance Company (NBFC) raises $50 million through the issuance of non-convertible debentures from the dutch entrepreneurial development bank FMO.
“They (Northern Arc Capital) are fully committed to increasing financial inclusion and reducing inequalities with an emphasis on women-owned businesses and MSMEs, in full alignment with our mandate. Through our latest partnership with Northern Arc, we can therefore support the business development across India, in line with our updated strategy towards 2030,” said Huib-Jan de Ruijter, Chief Investment Officer at FMO
The funds raised will be allocated to address three critical UN Sustainable Development Goal that includes SDG 8(Decent Work and Economic Growth), SDG 5 (Gender Equality) and SDG 10 (Reduced Inequality).
Ashish Mehrotra, MD & CEO of Northern Arc Capital said, “As a pioneer in the space we work in, we have become the preferred port of call for many global DFIs (development finance institutions). Our diligence frameworks and processes, underpinned by technology and data science, are trusted by some of the world’s most seasoned investors and have been validated by a decade-long track record.”