IFMR Holdings raises $25M from Accion, Leapfrog and Lok Capital

IFMR Holdings has raised $25 million (Rs 162.5 crore) from Accion, Leapfrog and Lok Capital, it said on Thursday.

Accion brought in half of the amount while Leapfrog and Lok Capital chipped in with Rs 58.5 crore ($9 million) and Rs 22.7 crore ($3.5 million), respectively. Leapfrog and Lok Capital are existing investors in IFMR group firms.

Founded in 2008 and promoted by IFMR trust, previously it had raised private capital for IFMR Capital (Leapfrog) and IFMR Rural Channels (Tata Capital, Proparco, IFC, Lok Capital).

"This comes at an important inflection point for IFMR Holdings. Against the backdrop of a very favourable policy environment for financial inclusion, we are accelerating growth across all our businesses," said Bindu Ananth, chairperson of IFMR Trust.

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