Northern Arc has cumulatively raised over Rs 95,000 crore in funds for its shoppers for the reason that inception of its platform in 2009. Its publicity is unfold throughout 28 states and 7 Union Territories as on March 31, 2021.

Northern Arc Capital, a diversified NBFC, on Wednesday stated it has raised Rs 100-crore debt from one of many Japan’s largest banks, Sumitomo Mitsui Banking Company (SMBC).

Northern Arc Capital will use the proceeds to cater to credit score calls for of small enterprises and agri companies. The transaction aligns with the corporate’s purpose of making sustainable influence by offering environment friendly and dependable debt finance to under-served companies, in line with a press launch.

For the reason that onset of the pandemic, the debt platform has raised funds from reputed worldwide traders, together with JICA, USDFC, ADB and FMO.

SMBC India CEO Toshitake Funaki stated, “We’re happy that our strategic partnership with Northern Arc Capital has advanced and deepened amid the rapidly-changing setting, and over time supported SMBC in contributing positively to the attainment of sustainable improvement targets in India.”

Northern Arc has cumulatively raised over Rs 95,000 crore in funds for its shoppers for the reason that inception of its platform in 2009. Its publicity is unfold throughout 28 states and 7 Union Territories as on March 31, 2021.

Kshama Fernandes, MD & CEO of Northern Arc, stated, “We’re excited to deepen our partnership and engagement with one of many world’s premier banking establishments. This transaction will additional deepen Northern Arc’s foray into retail lending by partnerships.”

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https://www.financialexpress.com/business/northern-arc-capital-raises-rs-100-crore-debt-from-smbc/2340425/

Northern Arc Capital raises Rs 100-crore debt from SMBC