Milaap has joined hands with a Singapore-based media organisation e27 to launch an entrepreneurship development fund.
Milaap is the second India-specific crowdfunding initiative launched this month. Two weeks ago, San Francisco-headquartered crowdfunding microlender Kiva launched its first service in India. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lends as little as $25 to individuals. In India, the lender is expected to reach out to ‘the underserved and the vulnerable group’ through three field partners located in Orissa and Manipur.