Kaleidofin Private Ltd, a financial services company focused on the informal sector, has secured $13.8 million in equity funding. Leading this round is Rabo Partnerships BV from the Netherlands with an $11 million investment.
The funding will aid Kaleidofin in expanding its lending portfolio and enhancing its credit scoring and risk management services. Existing investors such as the Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India, and Flourish Ventures also participated, raising Kaleidofin’s total funding to $37 million, according to a statement.
Rabo Partnerships, a subsidiary of Rabobank, will support Kaleidofin’s growth in financial inclusion and risk infrastructure, particularly for rural and agriculture-focused lenders.
Sucharita Mukherjee, Co-founder & CEO of Kaleidofin, said the synergy between the company’s expertise in the Indian rural economy and Rabo’s focus on agriculture will enhance their ability to serve and underwrite agricultural customers with more tailored loan solutions.
Marianne Schoemaker, CEO of Rabo Partnerships, noted that this investment aligns with their strategy of promoting data-driven financial solutions through local institutions and service providers.
Founded in 2017, Kaleidofin has provided financial solutions to low-income customers and informal sector businesses, disbursing over $2.7 billion to 4.7 million customers in India. Previous investors include the Bill and Melinda Gates Foundation and Omidyar Network India.
