Sub-K Impact Solutions (Sub-K) announced today that it has acquired approximately 25 percent stake in Prayaan Capital. Prayaan Capital is a NBFC that lends to MSMEs.
Prayaan Capital will use the additional capital to invest in its technology platform and expand outreach to small businesses.
Prayaan Capital aims to cater the needs of the MSME sector by leveraging its branch and back-end network, as well as customer-facing digital tools to help small businesses digitize their operations and obtain credit.
This partnership with Sub-K will help drive digital innovation faster and build a strong franchise that serves this segment.
Sasidhar N Thumuluri, Managing Director and CEO, said: "We believe Brian's strong domain experience and strong operating model, along with Sub-K's technical leadership and distribution network, will go a long way to satisfying the credit needs of MSMEs, which will have a significant impact on scale".
In the past, Prayaan Capital has raised investments from Accion Venture Lab, Accion's comprehensive early-stage investment initiative, as well as several leading individual investors.
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