Northern Arc Capital, a private equity-backed debt financier, announces that it had raised $50 million (about Rs 400 crore) from Dutch entrepreneurial development bank FMO through non-convertible debentures (NCDs).
Northern Arc said in a statement that the facility’s long-term nature will allow it to provide customised credit solutions to these customers both directly and through partners.
The fund will also be used to address three critical United Nations Sustainable Development Goals: SDG 8 (decent work and economic growth), SDG 5 (gender equality), and SDG 10. (reduced inequality).
Since its inception in 2009, the Northern Arc Group has enabled financing for originator partners. The company serves its customer segments through its digital Nimbus platform, which helps NBFCs (non-banking financial companies), fintechs, digital lenders and investors raise debt capital from over five hundred global and domestic investors.
Northern Arc has raised funds from a variety of international investors over the last three years, including USDFC (United States International Development Finance Corporation), ADB (Asian Development Bank), Proparco, Calvert Impact Capital, and JICA.
“Through our latest partnership with Northern Arc, we can therefore support the business development across the Indian country, in line with our updated strategy towards 2030,” said Huib-Jan de Ruijter, chief investment officer at FMO.
Ashish Mehrotra, Managing Director and Chief Executive of Northern Arc Capital“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.”
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