Indian non-banking financial company Samunnati Financial Intermediation and Services Pvt. Ltd. is in discussions to land between $50 million to $70 million in new fundraising round.
Samunnati is in talks with U.S.-based private equity firms General Atlantic and Warburg Pincus, which will dilute a significant minority stake through the latest fundraise.
With the proposed fundraising, Samunnati will enhance its loan book as well as extend its branch network.
Samunnati, which generated $19.9 million in revenue in 2017 to 2018, hired Indian investment banking services provider Kotak Mahindra Capital as an advisor on the fundraise.