Symbiotics leads $18 Mn debt round in Dugar Finance

Dugar Finance, an impact-led secured MSME lender, has raised $18 million (about Rs 160 crore) in a debt funding round led by Swiss-based investor Symbiotics, with participation from leading Indian banks including Union Bank of India, Karur Vysya Bank, Indian Overseas Bank, Tamilnad Mercantile Bank and STCI Finance among others. Symbiotics contributed $5.5 million in this round.

It had previously raised $3 million in debt from the $75-million Green Basket Bond issued by  Symbiotics Investments back in June this year.

The fresh funds will be allocated…