Northern Arc Capital secures $50 million from FMO through NCDs

• ByStartupStory     |    October 28, 2022

Northern Arc Capital announces the closing of a $50 million bond offering. FMO, the Dutch entrepreneurial development bank to enable entrepreneurs to achieve inclusive and sustainable prosperity, subscribed to the offering.

Northern Arc will invest half of the earnings in MSMEs and women entrepreneurs, particularly among the next billion. The facility’s long-term nature will enable Northern Arc to deliver customized credit solutions to these customers both directly and through partners.

“We are excited to expand this partnership with FMO to cater to the diverse financial requirements of India’s small entrepreneurs and emerging segments,” managing director Ashish Mehrotra was quoted as saying in a media statement issued by the company on Thursday.

Northern Arc Group has handled funding for originator partners since its beginning in 2009. The Company services its client segments through its Nimbus digital platform, which assists NBFCs, fintech, digital lenders, and investors in raising debt financing from over 500 global and local investors.

Northern Arc has raised funding from a variety of foreign investors over the last three years, including USDFC (United States International Development Finance Corporation), ADB (Asian Development Bank), Proparco, Calvert Impact Capital, and JICA.

Northern Arc’s total assets under management exceed Rs 9,000 crore when combined with its asset management division, which manages seven AIFs (Alternative Investment Funds). So far, the firm has made approximately 8 million loans to individuals, families, and small enterprises.

Northern Arc’s AltiFi platform now allows investors to participate in fixed income. AltiFi claims to be involved in 657 districts across 28 states and seven union territories in India.

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