Ujjivan Financial Services, a Bangalore, India-based microfinance institution, is pleased to announce the successful completion of the fourth round of equity infusion. Originally planned for USD 15 million, the equity round was over-subscribed and increased to USD 19 million. The incremental capital was largely subscribed by existing shareholders, including Unitus Equity Fund (UEF), managed by… Read more >
Team Unitus Labs,
Posts by Team Unitus Labs
New Partnership With Microfinance Institution Tujijenge
November 19, 2008 – Press Release
Unitus to Accelerate Access to Microfinance in East Africa New Partnership with Tanzanian Microfinance Institution Tujijenge Part of Larger Strategy to Bring Growth and Innovation to the Fight against Poverty in Africa Seattle, WA, November 19, 2008 — Unitus, Inc. today announced plans to accelerate access to microfinance in East Africa. An international nonprofit organization… Read more >
Funding the Poor Man’s Dream (Ujjivan)
November 13, 2008 – Media Exposure
Sales are brisk at the cigarette stall of Ram Naresh Gupta. His daily income hovers around Rs 800, for he is strategically located near one of the exits of Delhi’s chaotic Azadpur wholesale market. On a recent trip to his village in Gorakhpur, UP, a co-passenger robbed him of his considerable savings of Rs 1 lakh… Read more >
SKS Microfinance Raises Rs 366 Cr In Fourth Round
November 10, 2008 – Media Exposure
In the largest microfinance deal in the world, Hyderabad based SKS Microfinance has raised Rs 366 crore or $75 million from private equity investors. This is fourth round of fund raising by SKS. Sandstone Capital, an India focused hedge fund with $1 billion capital under management, has led the deal, while the other investors in… Read more >
Unitus Partners Now Serving Over 6 Million Clients
October 23, 2008 – Press Release
Unitus Partners Cross 6-Million Mark Unitus congratulates our 22 microfinance partners for surpassing the 6-million client mark—nearly double the number served at the end of 2007! In a year marked by rising food and fuel prices—not to mention the global credit crunch—expanding access to microfinance for millions more families is an especially important accomplishment. Thanks… Read more >
ACCION, Michael & Susan Dell Foundation and Unitus Equity Fund Invest in Swadhaar FinServe
October 14, 2008 – Media Exposure
MUMBAI, India, Oct. 14 /PRNewswire/ — ACCION International (through its Gateway Fund), the Michael & Susan Dell Foundation and the Unitus Equity Fund (UEF) announced investments in Swadhaar FinServe Private Limited, a microfinance institution (MFI) operating in the slums of Mumbai. The promoters of Swadhaar FinServe, Veena Mankar and Haseena Vahanvaty, bring together a unique… Read more >
LifeBank Foundation Passes 200,000-Client Milestone
October 1, 2008 – Update
Unitus is pleased to announce that LifeBank Foundation has surpassed the 200,000-client milestone. Based in the Philippines, LifeBank has been a Unitus partner since 2006. Last year, the organization grew its client base by an impressive 105 percent, and anticipates 80 percent growth by the end of 2008. LifeBank began as a rural bank in… Read more >
Unitus Leadership Summit 2008
October 1, 2008 – Update
Unitus partners convene in Bali, Indonesia How are microfinance institutions (MFIs) dealing with the credit crunch, and what advice do they have for their peers? How do you grow an MFI rapidly while maintaining its core mission? What products and services are working beyond microcredit loans, and how do you design and implement them? How… Read more >
Congratulations to Ujjivan!
August 1, 2008 – Update
On July 8, Unitus partner Ujjivan crossed the 100,000-client threshold, a major accomplishment. Headed by CEO Samit Ghosh, the organization reached the milestone in just 982 days. Ujjivan launched the first of its pilot programs in November 2005 in Bangalore, India, and currently operates 68 branches centered around Bangalore, Kolkata, and New Delhi. A Unitus… Read more >
Microfinance and the Global Food Crisis
August 1, 2008 – Update
The following article is adapted from the July 2008 issue of Unitus’s partner newsletter, “The Accelerator.” The piece is specifically focused on helping MFIs prepare for and respond to the drastic increase in food prices occurring throughout the developing world. As economies adjust to the global rise in food prices, the growing crisis is expected… Read more >
Unitus Joins Groundbreaking Social Performance Initiatives
August 1, 2008 – Update
In June 2008, Unitus attended the Social Performance Task Force meeting in Paris, France. Created in March 2005, the Social Performance Task Force (SPTF) has been charged with clearly defining social performance and addressing questions about measuring and managing social performance in the microfinance sector. More than 200 organizations around the world participate in the… Read more >
Balancing Growth and Mission at the Microcredit Campaign Summit
August 1, 2008 – Update
Unitus joins hundreds of microfinance leaders in Bali, Indonesia This July, the 2008 Asia-Pacific Regional Microcredit Campaign Summit convened microfinance institutions (MFIs), non-governmental organizations, foundations, corporations, and government leaders from around the world to discuss the challenges, trends, and new opportunities arising in microfinance. Unitus, along with several of our partner MFIs, joined Dr. Muhammad… Read more >