Suryoday Micro Finance Pvt Ltd is a registered Non-Banking Finance Company, engaged in providing loans to women from Economically Weaker Sections, Below Poverty Line and the Marginal Poor who do not have access to traditional banking, with an objective to reduce poverty in its area of operation.

Suryoday, the sanskrit word for sunrise, signifies the dawn of a new beginning. We believe that this word encompasses our objective of giving an impetus to the economically disadvantaged women to make a fresh start by utilising our loans for income generating activities and enabling sustainable socio-economic progress.

Milestones

2008 Jan-Dec:

• Incorporated in Nov 2008 under the Companies Act with Registered Office in Chennai

2009 Jan-Dec:

• RBI License For NBFC Operations
• Private Equity Funding Agreement with Aavishkaar Goodwell
• CRISIL Grading of mfR5
• 10 Branches across Pune and Solapur in MH; Chitttoor in AP
• Cumulative Disbursement of Rs  15~ Crores, Gross Loan Portfolio of Rs 11~ Crores with 15000~ Active Customers

2010 Jan-Dec:

• Launch of Second Cycle Loan Products
• Series B Funding of Rs 21 Crores with investments from Aavishkar Goodwell and Lok Capital
• Upgrade in CRISIL Grading to mfR4
• 31 Branches across Pune, Solapur, Mumbai and Kolhapur in MH; Bhubaneswar in OR; Chitttoor in AP; Salem and Trichy in TN
• Cumulative Disbursement of Rs 106~ Crores, Gross Loan Portfolio of Rs 52~ Crores with 80000~ Active Customers

2011 Jan-Dec:

• New Products Launched - Monthly/Fortnightly Repayments
• CRISIL Grading of mfR4 retained
• Cumulative Disbursement of Rs 220~ Crores, Gross Loan Portfolio of Rs 80~ Crores with 90000~ Active Customers

2012 Jan-Dec:

• Series C Equity Infusion from HDFC Holdings and HDFC Life
• CRISIL Grading Upgraded to mfR3
• Cumulative Disbursement of Rs 350~ Crores, Gross Loan Portfolio of Rs 112~ Crores with ~1.40 Lac Active Customers
• Expansion into Karnataka, now 34 Branches across Mumbai, Pune, Solapur, Kolhapur, Nashik and Nagpur in Maharashtra; Bhubaneswar and Cuttack in Odisha; Ahmedabad and Vadodara in Gujarat; Chittoor in Andhra; Salem, Coimbatore and Trichy in Tamil Nadu; Belgaum in Karnataka.

2013 Jan-    :

• Series D Equity Infusion of Rs 20 Crores from Aavishkaar Goodwell and LOK Capital
• Cumulative Disbursement of Rs 450~ Crores, Gross Loan Portfolio of Rs 180~ Crores with ~1.75 Lac Active Customers
• 49 Branches across Mumbai, Pune, Solapur, Kolhapur, Nashik and Nagpur in Maharashtra; Bhubaneswar, Cuttack and Puri in Odisha; Ahmedabad, Vadodara and Godhra in Gujarat; Salem, Coimbatore, Trichy, Madurai, Kanyakumari and Tirunelveli in Tamil Nadu; Belgaum in Karnataka.