Chaitanya India Fin Credit Private Limited

Chaitanya Rural Intermediation Development Services Pvt Ltd is a Bangalore-based microfinance institution focused on enhancing financial inclusivity for underserved populations in India, offering tailored microfinance solutions for business and personal needs. Founded in 2009 and headquartered in Bangalore, India, Chaitanya Rural Intermediation Development Services Pvt Ltd specializes in providing microfinance services. The company was acquired by Svatantra Microfin in August 2023 for INR 14. 79 million, marking a significant pivot in its operational strategy.

The firm has successfully closed 7 deals to date, with the most recent deal occurring on August 8, 2023. The company was co-founded by Sudha Kothari and Venkatesh Babu, with Lokesh Reddy serving as the CEO. Chaitanya India Fin Credit Pvt. Ltd.

specializes in microfinance solutions aimed at improving financial accessibility for low and middle-income individuals in India. The company offers a range of products, including group lending for small loans and retail loans for individual clients, specifically designed to address the financial needs of underserved rural communities across multiple states, such as Karnataka, Maharashtra, Bihar, and Jharkhand. Since its inception, Chaitanya has supported over one million customers in enhancing their living standards by providing financial resources for entrepreneurial ventures and essential purchases. In 2023, Chaitanya reported a revenue of INR 82,124,204.

90 and an EBITDA of INR 58,076,632. 30. The company primarily generates revenue through interest from microfinance loans, which are offered at rates ranging from 21. 9% to 23.

9% on a reducing balance basis. Revenue is derived from direct lending to consumers, reflecting the firm's commitment to fostering economic growth among its client base. Chaitanya aims to leverage its recent acquisition by Svatantra Microfin to enhance its service offerings and expand into new markets. The company is exploring the launch of new financial products aimed at further supporting the needs of its clientele, with plans to target additional regions in India by the end of 2024.

The INR 14. 79 million raised in the latest funding round will be utilized to facilitate this expansion and to support the development of new product lines, aligning with Chaitanya's strategic vision to enhance financial inclusion.