Utkarsh Microfinance Pvt Ltd

2009

For-profit

Finance,Microfinance

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Founders


Details


Region of operation

Uttar Pradesh, Bihar, Madhya Pradesh, Uttarakhand, Delhi, Himachal Pradesh, Haryana, Maharashtra

Headquarters address

S-24/1-2, First Floor, Mahavir Nagar, Orderly Bazar, Near Mahavir Mandir, Varanasi Country: India Zip: 221002

Target problem

Utkarsh Micro Finance Pvt Ltd supports underprivileged and underserved segments by providing financial and non-financial services through a socially responsible, sustainable and scalable institution.

Key product / Service

Micro-Enterprise Loans

Team size

10-50

Number of beneficiaries

700000

Awards and recognition

Funding and Operating Model


Funding round

Higher than Series B

Total funding raised

$ 19300000

Business details

Operating Model: Utkarsh has a five member board with all the directors experienced in their respective area of expertise. The board meets on a quarterly basis and if required it may meet more often. The Utkarsh Board is actively involved in strategy formulation and also approves the company’s business plan. As for Management Information System, Utkarsh has moved to mobile based collections and disbursements. The Internal Audit Process of the company is robust with each branch being audited once a quarter. Challenges: 1) To mobilise capital to meet the growth plans 2) Ability to maintain the same level of asset quality while growing and diversifying the product profile as well as portfolio geographically 3) Ability to recruit and train personnel to me the expansion plans and attrition rates especially at field level 4) Ability to improve geographical diversification of operations further

Partners and key clients

Craft Silicon, Equifax India, IFC Advisory Services, Intellecash, BAJAJ Allianz, BSR & Company (KPMG), New India Assurance Co Ltd.

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