About Us

Idea

The microfinance industry has emerged as an important player in the financial inclusion landscape, providing access to credit and other financial services to underserved communities and individuals. The Company, engaged in the business of microfinance, aims to provide affordable and innovative financial products and services to poor households in rural areas whose income is under ₹ 300,000.

Plan

The Company has a strong focus on social impact and aims to promote entrepreneurship and self-employment opportunities through its financial products and services. Its loan products are designed to cater to the diverse needs of its customers, including income-generating activities, agriculture, education, and health. The Company also provides financial education and training to its customers to promote financial literacy and entrepreneurship.

Realization

Magenta follows JLG model for its operations, wherein the borrowers are organized into groups of 8-10 members and minimum three groups are required to constitute a Centre. Magenta provides loans of up to ₹ 70,000 to individual members in the group (JLG). Magenta’s target segment comprises rural women from low-income families who come from poor/moderately poor income households.

sies

The Company .

Licence
Why
Association
Process

Magenta Finance Services Private Limited (MAGENTA) is a private limited company. MAGENTA is a company limited by shares formed to engage in the business of microfinance as permitted by RBI under the NBFC- MFI category. MAGENTA received NBFC-MFI license from RBI on 10th November 2017. MAGENTA is promoted by a foreign firm namely Nellcome Ltd.(Holding Company).

The necessity of starting an NBFC-MFI is attributed primarily to bring necessary professional and regulatory framework to rapidly scale up microfinance operations. It allows the entity to raise equity from the commercial and impact investors and also assist the Board to raise funds from the commercial loan market.

Magenta is a member of Microfinance Institutions Network (MFIN) which is a Self-Regulatory Organization - an apex Body nominated by the RBI to oversee MFIs. Magenta’s target segment comprises rural women from low-income families who come from poor/moderately poor income households.

Magenta follows JLG model for its operations, wherein the borrowers are organized into groups of 8-10 members and minimum three groups are required to constitute a Centre. Magenta provides loans of up to ₹ 70,000 to individual members in the group (JLG)

Nellcome Ltd, Holding Company

We are

Nellcome Ltd. is the holding company, established in 25th January 1995 at Isle of Man, Europe.

Our Mission

The Group is committed to socially responsible and environmentally-friendly business activities throughout its operations.

Our Approach

The company is interested in all kinds of businesses and has invested across countries in several entities which have been working in the domain of second-hand clothes selling business along with the sourcing and selling of solar panels. Website

Our Solutions

The main business line today is the importing, sorting and selling of Second-Hand Clothes. Second Hand Clothes business add value to clothes that would otherwise end up as waste. The main products during the past few years have been machinery and equipment for sorting of Second-Hand Clothes and Solar Panels.