PC: Medial
A financial services startup, Kaleidofin, has announced a major milestone in securing $13.8m funding from Rabo Partnerships-a Netherlands-based financial inclusion and rural development-focused subsidiary of the Rabobank Group, along with participation from existing investors. The funding round is one of the critical steps for Kaleidofin in its task of providing financial solutions to low-income customers and businesses in India’s informal economy.
The equity funding round by Rabo Partnerships will be a good barometer of interest and confidence in Kaleidofin’s vision and services. Similarly, notable investors such as the Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India, and Flourish Ventures have also invested in Kaleidofin. This would well position Kaleidofin to further expand its lending portfolio and also technology and risk services.
Kaleidofin, set up in 2017 by former IFMR Holdings executives Sucharita Mukherjee and Puneet Gupta, has until now facilitated more than $2.7 billion in loans since 2020 to over 4.7 million customers and small businesses in India’s informal economy. Innovative credit health assessments, middleware technology, and risk management tools that unlock financing to underbanked customers form the thrust of this platform. That’s why such an investment-worthy start-up company gets recognized support from investors.
The fresh capital inflow will enhance the credit-scoring capabilities at Kaleidofin and middleware technology in order to strengthen the risk services in the long term through the strategic partnership. This strategic approach supports the commitment of Kaleidofin to serving low-income individuals, small entrepreneurs, and the agriculture segment in India with a variety of financial services.
In this project, investments such as those of Rabo Partnerships, are attracted by the success, for the primary target which is currently women and small entrepreneurs, of Kaleidofin in establishing itself as a leading player in credit scoring and risk services. Kaleidofin understands the Indian rural economy, where a big proportion of the population remains under significant dependence on agriculture, thus positioning it well to address the financial inclusion challenges in that country.
An investment in Rabo Partnerships means giving a vote of confidence to Kaleidofin’s innovative approach towards the delivery of financial solutions to the underserved segments of population. Kaleidofin will harness data-driven finance solutions and partnerships with local institutions to enhance customer-centric offerings and reach more in the agri segment.
This brings Kaleidofin closer to its goal of improving financial access and economic well-being of persons and enterprises in India’s informal economy. Not only does the investment by Rabo Partnerships and other investors bring adequate capital to enhance Kaleidofin’s growth trajectory but also validates its strategic vision and impact in the financial services sector. As Kaleidofin continues to grow the loan portfolio while strengthening its technology-driven solutions, it is well-positioned to make a difference for millions of underserved customers across the country.
