Oikocredit has sold its equity shares in the public listing of Fusion Microfinance
Oikocredit’s investment has supported Fusion’s successful growth into a microfinance provider to more than 2.9 million mainly rural low-income women.
Amersfoort, the Netherlands – Social impact investor and worldwide cooperative Oikocredit has sold all of its shares in the initial public offering (IPO) of Fusion Microfinance Private Limited on the stock exchanges of India.
Oikocredit has provided growth capital for the Indian microfinance institution (MFI) since making its first loan to Fusion in 2010 and its first equity investment in 2015. Fusion has built its client base from 200,000 to more than 2.9 million women in rural and semi-urban areas of India while remaining faithful to its mission of providing economic opportunities to low-income women entrepreneurs.
Fusion’s IPO listing took place on 15 November 2022. After the IPO, the availability of additional equity capital will enable Fusion to further increase its outreach, launch new products and provide more business continuity to its clients.
Tom Keleher, Oikocredit’s Equity Director, said: “Oikocredit is proud to have partnered with Fusion over the last 12 years. The IPO will facilitate the ability of Fusion to continue to grow and responsibly serve even more clients in the coming years. Exiting from Fusion will also enable Oikocredit to deploy funds with other partners where we can continue adding value to achieve a positive impact for our end beneficiaries.”
Mirjam ‘t Lam, Oikocredit’s Managing Director, said: “We’re delighted to see Fusion take another step in scaling up its services for low-income rural women in India. Oikocredit’s support for this former equity partner has served its purpose well, and now we will seek new equity investing opportunities where our cooperative can add value in keeping with our social mission.”
Social impact investor and worldwide cooperative Oikocredit has 47 years of experience funding organisations active in financial inclusion, agriculture and renewable energy.
Oikocredit's loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.
Oikocredit finances over 500 partners, with total outstanding capital of € 1,049.3 million (at September 2022).
For more information:www.oikocredit.coop.
Note for editors
For more information or to request an interview, please contact: Viviana Cordero, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: email@example.com.
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