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Milestones

DATE MILESTONE- FUSION MICROFINANCE
April - June 2017
  • DeveshSachdev elected as Vice-President of Microfinance Institution Network (MFIN)
  • Fusion receives ‘Best Usage of ICT in Rural Development’ award by Mr. Ravi Shankar Prasad (Union Minister for IT and Communication) at Business World Digital India Summit 2017
  • Received 92% score in Code of Conduct Assessment done by M-CRIL
  • Two digital branch operational at Uttar Pradesh and Punjab
  • Expansion to two new states Rajasthan and West Bengal
  • Total no of Active Loan Clients 752,777
  • Gross Loan Portfolio Outstanding (Including Managed Portfolio)INR 854.77 Cr
  • Business Correspondent INR 52.87 Cr
  • Managed Portfolio INR 12.96 Cr
  • Total Debt Outstanding INR 924.39 Cr
Jan – March 2017
  • Fusion completed 7 wonderful years of its journey in January 2017
  • Long Service Award given to 103 employees for their association and commitment to Fusion since 2010
  • Digital Literacy programs were organized at 7 districts of Madhya Pradesh and Uttar Pradesh. A huge number of people from the communities including our clients participated in the program who were made aware of the various modes of digital payment
  • Fusion has contributed to World Wildlife Fund (WWF) for Biodiversity Conservation in Harike wetland in Punjab to promote environmental protection.
  • Total Number of active clients is 6,82,369
Oct – December 2016
  • Fusion receives ‘Star of the Industry Awards’ under BFSI category from the Star Group.
  • Total no of Active Loan Clients 6,31,238
  • Gross Loan Portfolio Outstanding (Including Managed Portfolio) INR 740.84 Cr
  • Business Correspondent INR 60.81 Cr
  • Managed Portfolio INR 31.43 Cr
  • Total Debt Outstanding INR 832.51 Cr
July – September 2016
  • Rs. 162 Cr raised from Creations Investments, Gawa Capital and our existing investors BIO & Oikocredit
  • Asset Under Management (AUM) crosses Rs. 800 Cr
  • Rating outlook has improved from BBB (Triple B) to BBB+(Triple B Plus)
  • 39 new branches in Bihar, Madhya Pradesh, Uttar Pradesh, Haryana, Punjab, Odisha and Maharashtra
  • Increased outreach to 99 backward districts
  • Successful pilot of Cashless disbursements
  • Customer suggestion boxes placed across all the branches
April - June 2016
  • More than INR 100 Cr of debt raised by issuing fresh Non-Convertible Debentures in this quarter.
  • Mr. Frederic Lefebvre, French Member of Parliament, visited Fusion Head office to understand Microfinance in India and the work being done by Fusion in the sector.
  • Operations started in Punjab and Maharashtra, footprints in eleven states.
  • In continuous effort towards empowering our Human Resource M2i conducted First Batch of "Training of Trainers" Program for frontline managers.
January – March 2016
  • Fusion recognized as a S.T.A.R (Socially Transparent and Responsible) MFI by MIX and has successfully completed the MIX's 'Social Performance Desk Review' process.
  • Asset Under Management (AUM) crosses Rs.600 Cr
  • CEO,Devesh Sachdev appointed on the Board of MFIN
  • 89 new branches operationalized in FY 2015- 16 in Punjab, Uttarakhand, Uttar Pradesh, Madhya Pradesh, Bihar, Jharkhand, Chhattisgarh and Haryana
July-Sept 2015
  • Fusion crossed 300,000 active loan clients and POS of INR 400 Crores.
  • Fusion grading upgraded to MFI 2+ by CARE Ratings
  • Rating outlook has improved from BBB- (Triple B Minus) to BBB (Triple B)
  • Employee Toll - free helpline launched
  • Strengthened document processing system by implementing Document Management System (DMS)
April-June 2015
  • Rs. 53 Cr Series - C Equity round successfully closed with BIO and Oikocredit
  • More than Rs. 100 Cr raised by issuing NCD's
  • Asset Under Management (AUM) crosses Rs. 300 Cr
  • 25 new branches opened in Bihar, Madhya Pradesh, Uttar Pradesh and Haryana
January-March 2015
  • Subordinated Debt of Rs. 7 Cr (tier II capital) raised from SIDBI
  • Started Business Correspondence program with Yes Bank
  • Received Social Rating of Σβ+ on governance & strategy, social goals, responsibility to staff and client protection by M – CRIL
October-Dec 2014
  • Receives 'Best MFI of the Year 2014 Award' at 'Microfinance India Awards 2014' instituted by ACCESS
  • Successfully raised funds by issuing Non-Convertible Debentures of 22 Cr to Foreign Investor
  • Debt outstanding crosses INR 200 Cr
  • IndusInd Bank has increased the credit limit to 35 Cr under the 'Business correspondent' (BC) program
July-Sept 2014
  • Received a score of 83% in Code of Conduct Assessment done by M-CRIL
  • Successfully crossed Asset Under Management of 200 Crs
  • Appointment of a Grievance Redressal Officer for addressing client grievances
  • Further strengthened the funding base by placing 26.3 Crs of Non-Convertible Debentures on the Bombay Stock Exchange
April-June 2014
  • Featured in the list of India's 25 leading MFIs published by CRISIL
  • Grading upgraded to MFI 2 by CARE
  • Fusion has become endorser of SMART CAMPAIGN
  • Launched Toll Free Number for client grievance redressal
January-March 2014
  • Received NBFC-MFI certificate from the Reserve Bank of India.
  • Rating outlook has improved from BB (positive) to BBB (negative).
  • Migrated to cloud based IT platform.
Oct-Dec 2013
  • Fusion became systemically Important NBFC as per RBI guidelines.
  • Fusion crossed 100,000 active loan clients and POS of INR 100 Crores.
  • SIDBI has sanctioned grant for capacity building to Fusion under PSIG program supported by DFID.
  • ICRA has improved the rating outlook of Fusion from BB (stable) to BB (positive).
  • Fusion has received fresh loan sanctions from IDBI Bank and Dena Bank.
July-Sept 2013
  • Fusion has crossed cumulative loan disbursement of INR 2000 Million since inception.
  • Fusion has received bank rating of BB stable from ICRA.
  • Fusion has received loan sanction of INR 75 Million from BNP Paribas, its first debt from International Bank.
  • Fusion has received debt of INR 50 Million from IndusIand Bank, 2nd private bank to provide debt to Fusion.
  • NMI has sanctioned Technical Assistance to Fusion. The support was provided for the capacity building of the employees through training, strengthening of HR systems and strengthening the social performance aspect.
April-June 2013
  • Achieved cumulative break-even in first quarter of FY 2013-2014.
  • Fusion has signed technical assistance project with IFC to introduce Risk Management Framework and strengthen the risk function.
  • CRISIL assigned mfR4 grading.
January-March 2013
  • Fusion raised fresh equity (series B) of INR 250 Million from NMI and existing investor incofin. Net worth is now INR 375 Million.
  • Fusion now has 66992 Active Loan clients and Loan portfolio out-standing (including managed) of INR 568 Million.
  • Maanaveeya Holding private limited sanction fresh debt of INR 75 Million in March 2013.
  • The operating expense ratio (annualized) of Fusion Microfinances for year till date (April -12 to March -13 is 10.20%.
  • The Par (>30 as on 31st March 2013 is 0.032%.
October-Dec 2012
  • Fusion received debt of INR 25 million from bank of Maharashrta (public sector bank) now fusion has debt from three public sector banks.
  • Fusion received debt of INR 50 million from Ratnakar bank. First private sector bank to provide debt to fusion.
  • The Operating expenses ration ( annualizes of fusion microfinance for the year till ate ( April 12 to November-12) is 10.05%
July-Sept 2012
  • SIDBI sanctioned Tier-ii equity of INR 30 million under India microfinance equity fund ( IIMEF)
  • Reliance Capital sanctioned fresh term loan of INR 30 million
  • Small ticker vehicle loan ( STVL) Loan portfolio reached INR 40.4 million and is 8.4 % of the total portfolio outstanding
April-June 2012
  • Fusion reached cumulative loan disbursement of INR 762 Million, Portfolio Outstanding of INR 375 Million and over 37,000 Active loan Clients
January-March 2012
  • CRISIL upgraded the grading of Fusion to mfr4
October-December 2011
  • Fusion started Credit Bureau check with Highmark from Nov 1 2011.
July-September 2011
  • Started its first STVL operations (used commercial vehicle branch)
April-June2011
  • Registered separate sec-25 company "Fusion Saksham Development Foundation" to carry out the social and awareness activities among clients of Fusion
January–March 2011
  • Fusion closed the financial year with over 21000 active loan clients and loan portfolio outstanding of INR 122 million.
October-December 2010
  • Mfr5 grading awarded by CRISIL
  • Received INR 50 million from Incofin as CCPS
July-September 2010
  • Month on month break-even reached
  • Technical Assistance support from FMO
April-June 2010
  • Equity investment of INR 45 million from Incofin
  • Started its operations in state of Madhya Pradesh
March 2010
  • Successful Acquisition of Aajeevika portfolio (INR 6.3 Million)
January 2010
  • First Loan Disbursement
December 2009
  • Acquired Ambience Fincap Pvt. Ltd, and started the operations under the brand name of Fusion
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