Milaap Social Ventures, a Bangalore, India-based online platform to make microloans to India’s working poor, has received a seed investment from Unitus Seed Fund.
Founded in 2010 by a team of entrepreneurs from premier institutions in India and Singapore and led by CEO Sourabh Sharma, Milaap Social Ventures is an online microlending platform which enables people around the world to lend money to the working poor in India.
The loans aim to provide the poor with access to basic amenities including clean drinking water, toilets, education, renewable energy as well as income-generation opportunities.
So far, Milaap has raised USD $200,000 for borrowers in various parts of India with 100% repayment rate.
FinSMEs
07/02/2012