India’s Micro Housing Finance Corp raises $5.5m in new equity funding
Unilazer Ventures and existing backers Caspian Advisor’s India Financial Inclusion Fund and the Michael and Susan Dell Foundation have invested INR350 million ($5.5 million) in Micro Housing Finance Corporation (MHFC), which makes housing loans to lower income groups in urban areas.
MHFC began operations in June 2009 and serves those working in the informal sector, such as self-employed mechanics, housemaids or security guards, with an average monthly household income of INR8-25,000....
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