Kaleidofin has raised $10 million (Rs 74 crore) in a Series B funding round led by the Dell family's charitable, non-profit private foundation Michael & Susan Dell Foundation.
Existing institutional investors Oiko Credit, Flourish Ventures, Omidyar Network, Blume Ventures and Bharat Fund also participated in the round, the startup said. Total funding raised by Kaleidofin till date amounts to $18 million.
The company is a consumer-facing neobank like Jupiter, EpiFi, Niyo, Freo, and others. However, the startup focuses on the informal customer segment.
Neobanking platforms serve as a tech layer in tie-ups with banks and non-banking finance companies (NBFCs) to provide banking and related services digitally.
Kaleidofin, founded in 2018 by Sucharita Mukherjee and Puneet Gupta, has over one million active transacting customers across India. It has created a localised and accessible footprint across 230 districts and 14 states in semi-urban and rural India.
It has four product offerings currently, KaleidoGoals, a goal-linked savings and investment-led solution; payment solutions under KaleidoPay; KiScore that uses artificial intelligence and big data to assess a consumer's credit health and help in underwriting; and KaleidoCredit, a 'credit as a platform' service for lending and debt capital markets use cases.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
