Micro-lender Ujjivan now has 350 branches in 23 States, serving 1.3 million customers
After nearly three decades as a banker, in India and abroad, Ghosh decided to turn an entrepreneur and started Ujjivan Financial Services, a microfinance institution, in 2005.
He has been asked what was the toughest part of the journey. “It was raising that rupees 2 crore of the initial capital which is required to get an NBFC (non-banking finance company) licence. That took me about one year.” Since then, Ujjivan has raised rupees 350 crore from a clutch of investors that includes Unitus, Michael and Susan Dell Foundation, Lok Capital, Wolfensohn Fund Management and Sequoia Capital. Ghosh himself owns just a 2 per cent stake now in the enterprise..........Read More
Source: Business Line