Sachin Bansal Pumps In USD 104 Million Into Indian Microfinance Startup CRIDS - Named CEO

CRIDS

CRIDS- Chaitanya Rural Intermediation Development Services is an Indian microfinance startup that aims to help the low and middle-income families in the country who do not use traditional banking services for their funding needs. CRIDS reaches out to population across the country as a multi-region and multi-product financial service provider.

CRIDS has received colossal funding from technology entrepreneur and Flipkart co-founder, Mr. Sachin Bansal. He has acquired a majority stake in CRIDS with a total infusion of $104 million (INR 739 crores.) He will now be taking charge as the CEO of the company, however, the founders will continue in their respective roles and will retain a minority stake in the company. It has also been reported that most of the business units will continue to operate as it is and there will be no significant change in the management.

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