Details

Last Funding Type

Post-IPO Debt

Last Funding Money Raised

$9.40M

Industries

Banking,Finance,Financial Services

Founded date

Jan 1, 1990

Number Of Employee

5001 - 10000

Operating Status

Active

Satin Creditcare Network provides financial assistance to households, excluded from the ambit of mainstream financial service providers. The company offers financial products in the Non-MFI segment, a housing finance subsidiary, and business correspondent services, and similar services to other financial Institutions through Taraashna Services Limited, a business correspondent company and a subsidiary of Satin Creditcare Network. The company also incorporated a housing finance subsidiary which is Satin Housing Finance Limited or SHFL for providing loans to the affordable housing segment. This extension is to provide financial products that cater to the undeserved segments of the market.

The company's operations is based on the Joint Liability Group model, which enables people to deliver collateral-free, microcredit facilities to economically active women in rural and semi-urban areas, who have limited access to mainstream financial service providers. It also offers loans to individual businesses and MSMEs, product financing for the purchase of solar lamps, as well as loans for the development of water connections, and sanitation facilities.

Satin Creditcare Network focuses on rural and semi-urban areas, securing that its services reach those regions that usually face low or at best, moderate rates of penetration by other microfinance institutions. Satin Creditcare Network was founded in 1990 and is headquartered in Gurugram, Haryana, India.