Founded in 2005
Initial investment in 2008
Board member: Sandeep Farias
'Madura is a highly efficient, customer focused microfinance institution that lends to women self-help groups and micro entrepreneurs'
Madura is a highly efficient customer focused microfinance institution. The company provides unsecured microfinance loans to women self-help groups and micro entrepreneurs in rural and semi-urban areas. In addition, Madura enhances its microfinance outreach with knowledge and information services intended to increase the positive impact of financial inclusion to raise household and small business incomes of its customers.
Madura serves micro entrepreneurs and self-assembled groups of 10-20 low income, rural women who come together in local communities, guarantee each other’s loans and form a learning and support group for one another. Due to the informal nature of their income these individuals and micro entrepreneurs are not served by financial institutions and often end up paying high interest rates to the local money lender. Madura’s loans enable productive capital for its customers at low interest rates and with rapid delivery, allowing them to generate income.
Almost 60% of people in rural India are unable to avail any kind of loan.
Tara Thiagarajan, Chairperson, is a scientist whose interests encompass understanding complex systems and using a science based approach to solve large scale human problems through scalable for-profit enterprise. She has brought her own ideas and knowledge of economic development in rural India to drive Madura’s customer-centric strategy with a holistic product approach.
M. Narayanan, CEO, has 25 years of experience in the banking industry where he has held key positions as Head of Treasury at Bank of Madura and Head of Treasury at the GMR Group, Bangalore. His earlier career led him through a variety of roles at Bank of Madura including Head of Mumbai – Main, the largest branch of the bank, and AGM of Cash Management Services, Merchant Banking and Corporate Banking.
Mohan Eddy, Wholetime Director, comes over four decades of experience in building organizations across various sectors from manufacturing to technology. His expertise lies in engineering high-performance teams and led Madura’s transformation into a next-generation intelligent enterprise. Prior to Madura, he built an Enterprise Technology consulting practice that scaled to $200 million in revenues and is now part of Tech Mahindra.