Fincare Business Services, the India-based promoter of Fincare Small Finance Bank (SFB), has raised INR950 million (approximately US$13.5 million) from existing investors through a rights issue. Participants in the round include private equity fund managers True North, TA Associates, LeapFrog Investments and Tata Capital, with the latter investing through Tata Opportunities Fund; Kotak Mahindra Life; Edelweiss Tokio Life Insurance; and Small Industries Development Bank of India (SIDBI). A total of INR1.4 billion (approximately US$20 million), including the funds raised through the rights issue and reserves available with the company, will be invested in Fincare SFB to help grow the bank’s lending business.