Madura Micro Finance Limited (MMFL), a leading Indian Microfinance Institution (MFI), has informed that the company has secured a funding worth Rs 22 Crores from the private equity investment firm Unitus Equity Fund L.P. (UEF).  

MMFL has been rated as one of the world's top microfinance institutions by Forbes Magazine 2008-Top 50 Microfinance Institutions while, UEF makes strategic investments in high growth microfinance institutions and social enterprises and is managed by Elevar Equity LLC.   

Chennai-headquartered MMFL, which offers some of the lowest interest rates in the country, is focused on bringing large infusions of productive capital to the rural poor in South India through carefully selected and trained women's self-help groups (SHGs).   

According to the company, the investment will enable MMFL to increase its management bandwidth, strengthen its institutional capacity, and continue to expand its customer base.   

Apart from this, MMFL will also roll-out a suite of new, piloted products designed to support and promote entrepreneurship by creating economies of scale for raw materials and building market efficiencies through information products that link suppliers and buyers.  

MMFL seeks to serve over one million customers by 2013.