Swarna Pragati is India’s first affordable housing micro-finance company. The MFI offers loans for both fresh construction and home renovations to populations that would otherwise be financially excluded, especially women in rural and semi-urban areas. The company currently serves nearly 8,700 customers.
Investment in SP marks Goodwell’s introduction to the housing finance market. The micro-finance company had the dual aim of growth and expansion into neighbouring states, which Goodwell helped to accelerate. Since taking on Goodwell as an investor, SP has doubled its client numbers.
In December 2015, the company obtained additional funding with a goal to strengthen and expand its geographic operations to include a customer base target of 160,000 by the end of 2021.