Annapurna Finance has raised Rs 260 Crores from many investors to fund its digital transformation and green financing. Annapurna Finance said the investment from Encourage Capital, Accion, and Oikocredit is its third funding round in 2021, the company said in a statement.

The MFI lender has a pan India distribution network, offering micro-credit loans, home improvement, and MSME loans to individuals and small businesses. Annapurna is also adding green finance products to its offering and advancing its digital transformation journey. “We are working to transform itself into a digital financial services commodity with the help of Accion’s investment and advisory services. This digital strategy will boost the financial objectives of Annapurna,” the company said.

The funds will help us to launch green finance products. And we will utilise the capital to launch clean and sustainable energy financing products to small businesses and individuals. Gobinda Chandra Pattnaik, Managing Director of Annapurna Finance, said, “We will focus on bringing economically weaker areas of society into the mainstream by delivering required financial services. These funds will provide us easier credit access through a scalable digital framework and allow us to enter into the clean energy sector.”