Neobank Kaleidofin Raises $10 Mn in Series B Funding

The Michael & Susan Dell Foundation led a $10 million Series B fundraising round for Kaleidofin, a neo-bank with a purpose to help consumers achieve their real-life goals by providing intuitive and personalised financial solutions.

KaleidoPay is a suite of comprehensive payment solutions that includes KaleidoCredit, a credit as a platform service for lending and debt capital markets use cases. Kaleidofin has over one million active transactional clients across all product lines in India. In semi-urban and rural India, it has established a localised and accessible footprint throughout 230 districts and 14 states.

Sucharita Mukherjee and Puneet Gupta, Founders of Kaleidofin said, “We look forward to scaling up the Kaleidocredit business line and drive deep loan product innovation focused on the informal customer and nano business. To this end, we will deepen our investments in developing our technology, risk management and data science capabilities”

’Access to customizable credit for nano-entrepreneurs can unleash a growth wave for enterprises and the economy, and also enable some to graduate to small and medium enterprises. Kaleidofin can play a key role in this movement based on its on-the-ground partnerships and the scientific process for risk assessment and pricing.’ said Geeta Goel, Country Director, Michael & Susan Dell Foundation India.

Leave a Comment