LeapFrog invested $15 million in Shriram CCL, which distributes low-cost high-quality financial services including insurance, savings, and investment products to low-income Indians. Shriram CCL is a wholly owned subsidiary of Shriram Capital – the overarching holding company of the group’s financial entities. LeapFrog’s support is enabling Shriram CCL to grow swiftly, adding value to the business while reaching, protecting and enabling 10 million people. 

Over 98% of the broader Shriram Group’s customers are accessing financial services for the first time. In this way, millions of financially excluded people are entering the formal economy, changing the risks they face so that they can dare to seek better outcomes for their families, and participating in the inclusive growth story of India.

In 1974, Shriram began by helping low income clients save and then used the savings provide loans to owner-entrepreneurs of second hand trucks whom conventional banks rejected. The business has grown rapidly since then, into a $12 billion financial inclusion business, maintaining that “the bottom of the pyramid has always been top of our agenda.”