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IORA raises Rs 8.5 Cr funding from Caspian Debt

EntrackrEntrackr ยท 6m ago
IORA raises Rs 8.5 Cr funding from Caspian Debt
Medial

IORA raises Rs 8.5 Cr funding from Caspian Debt Founded in 2009 by Swapan Mehra, IORA is an environmental advisory firm with expertise in environmental finance, policy, scientific research, and project implementation. Iora Ecological Solutions (IORA), an enterprise focused on Nature-based Solutions (NbS) for climate action and ecosystem conservation, has raised Rs 8.5 crore (approximately $1 million) in debt funding from Caspian Impact Investments (Caspian Debt). The funds will be used to scale its MegCare agroforestry and land restoration program in Meghalaya, which aims to restore degraded landscapes, improve forest cover, and enhance rural livelihoods through sustainable agroforestry practices, the company said in a press release. According to IORA, MegCare will benefit 80,000 smallholder farmers across Meghalaya through a carbon finance model that links ecosystem restoration with sustainable income generation. IORA claims its solutions for climate change, agriculture, forestry, and biodiversity conservation span 20 million hectares across 27 Indian states, two union territories, and several countries in Southeast Asia, Africa, and South America.

FinReach raises Rs 21.9 Cr led by Colossa Ventures

EntrackrEntrackr ยท 1m ago
FinReach raises Rs 21.9 Cr led by Colossa Ventures
Medial

FinReach Solutions has raised Rs 21.9 crore (around $2.6 million) in a fresh round led by Colossa Ventures, along with existing investors Michael & Susan Dell Foundation, Omidyar Network Fund Inc, and Caspian SME Impact Fund IV. The company had earlier raised Rs 32.5 crore (around $3.9 million) from its existing investor group. The new capital will be used to scale operations, expand guarantee facilitation, and strengthen the companyโ€™s risk and technology stack to support larger volumes of credit assessments. Founded in December 2020 by Suvalaxmi Chakraborty, former senior executive at ICICI Bank, Barclays Bank, and SBM India, FinReach focuses on small entrepreneurs who struggle to access formal credit due to lack of collateral and limited credit history. FinReach operates a private-sector Credit Guarantee Program, enabling lenders to extend credit to micro, small, women-led, agri, and climate-focused enterprises. The platform connects private guarantors with lenders to de-risk loans and expand access to formal credit for underserved MSMEs. The firmโ€™s analytics-led guarantee engine evaluates borrower risk, facilitates guarantees, and supports lending in tier-III to tier-V regions. FinReach says its programs have reached 14,150 individuals, including over 2,050 women borrowers. FinReach works with development finance institutions including British International Investment and global foundations supporting credit-access initiatives.

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