Sachin Bansal, the Co-founder of the Flipkart, has invested INR 25 crore in the Chaitanya India Finance, a Micro Finance company run by the Chaitanya Rural Development Services, according to the report revealed. As per the report, Bansal has allotted 250 shares of the company, with a face value of INR 10 lakh as unrated non-convertible debentures. Since his exit from the Flipkart, the Bansal was looking to foray into the fintech space and was reported to have met officials of the Reserve Bank of India as well. Bansal investment firm BACQ, which he to have cofounded with the Bank of America Top executive, Ankit Agarwal has been an active investor in the NBFC space. The Bangalore based microfinance company which is founded in 2009 currently work in the Maharasthra, Bihar, and Karnataka that even provides the joint liability group loans with the financial literacy program to rural communities across the three states.
Source: Techstory
