Swarna Pragati raises INR 500 million in debt funding from State Bank of India

Today, an estimated 450 million people lack safe and secure homes in rural India—with two key causes being a widespread lack of formal property rights documentation and exclusion from the formal financial economy. Swarna Pragati, India’s first affordable rural housing microfinance company, recently announced new debt funding from the country’s largest bank.

The latest funding—which comes after a 2015 Series B round that included Omidyar Network—will help the company provide innovative financing to more women and low-income and rural families, helping them make critical improvements to their homes and build a foundation for future prosperity.

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