Mumbai-based Svasti Microfinance raises $10 million

Svasti Microfinance, a non-banking financial company-micro finance institution (NBFC-MFI), has raised $10 million from multiple investors. The backers include tycoon Adar Poonawalla, the Patni family, Norway-based Nordic Microfinance Initiative (NMI), Singapore's Kayenne Ventures, and high net-worth individuals led by the Rajiv Dadlani Group. Based in Mumbai, Svasti was founded in late 2010.