Chennai-based neobanking platform Kaleidofin has secured $5.3 million (approximately ₹44.5 crore) in its latest funding round, spearheaded by the IDH Farmfit Fund.
This fresh capital injection comes just months after the fintech startup raised $13.8 million in September 2024. With this round, Kaleidofin’s total funding has now reached $42 million. The company’s investor roster includes prominent names such as Rabo Partnerships, the Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India, and Flourish Ventures.
According to the official press release, the newly raised funds will be channeled towards expanding Kaleidofin’s lending portfolio. The company also plans to enhance its credit scoring capabilities, risk assessment solutions, and middleware offerings by forging new strategic partnerships.
Kaleidofin’s Mission: Financial Inclusion at Scale
Founded in 2017 by Sucharita Mukherjee and Puneet Gupta, Kaleidofin is on a mission to democratize access to financial services across India. The platform is designed to serve the 600 million underbanked individuals in the country by offering tailor-made financial solutions that integrate investments, credit, and insurance.
Unlike traditional banks, Kaleidofin adopts a hybrid “click and brick” approach, combining the efficiency of digital platforms with the accessibility of offline partner networks. This allows the startup to provide last-mile financial connectivity in underserved areas through trusted intermediaries such as banks, microfinance institutions (MFIs), non-banking financial companies (NBFCs), and NGOs.
Technology-Driven Financial Empowerment
At the core of Kaleidofin’s operations is a robust technology stack powered by machine learning and AI-driven suitability engines. These tools enable the platform to deliver personalized, goal-based financial solutions that evolve with customers through various life stages.
By lowering the cost of delivering financial services, Kaleidofin makes it viable to serve customers with minimal savings. Its strategic partnerships ensure scalability while maintaining a strong on-ground presence.
Future Outlook
With this latest funding round, Kaleidofin is well-positioned to further its vision of enabling inclusive financial growth in India. The expansion of its product suite and partner network signals a strong push toward scaling sustainable financial services for underserved communities.