The US International Development Finance Corporation (DFC) and the United States Agency for International Development (USAID) on Friday said they are jointly sponsoring a $55 million ( ₹400 crore) credit guarantee to address the economic impact of covid-19 by supporting loans to farmer producer organisations, ag-tech companies, and companies engaged in clean energy solutions for the agriculture sector.

Technology led NBFC Avanti Finance has further raised $15 million or about ₹111 crore in Series A2 from existing investors Oikocredit, Nomura, The Bill & Melinda Gates Foundation and Dr KR Shroff Foundation. With this, it has completed their Series A and debt funding round, which raised a total of $41 million or ₹306 crore.

Technology-led non banking finance company (NBFC) Avanti Finance on Thursday said it has raised $ 15 million (around ₹111 crore) as part of its Series A extended round from existing investors Oikocredit, Nomura, The Bill & Melinda Gates Foundation, and Dr. K R Shroff Foundation.

Avanti Finance has raised Rs 195 crores in debt and equity from Oikocredit, Nomura and the Bill & Melinda Gates Foundation. Technopreneur cum philanthropist Pratul Shroff & existing investor NRJN Trust also participated in the round.

It will use these funds to strengthen its platform and expand its presence to accelerate livelihoods purpose credit and other financial products to the next 100 million unserved and underserved households in India.