Funding Alert

Kinara Capital raised $27.3 million in a new round of fundraising from Nuveen Global

• ByStartupStory     |    April 13, 2022

Kinara Capital, a Bengaluru-based fintech startup, has raised $27.3 million in a new round of fundraising led by the Nuveen Global Impact Fund and Triple Jump. Kinara Capital, an MSME financing company, has approved the sale of 3.2 million Class A1 equity shares to Nuveen Global and Triple Jump (through Pettelaar Effectenbewaarbedrijf N.V) for $27.3 million (INR 208.1 Cr).

Both Nuveen Global Impact Fund and Triple Jump are well-known international investors in microlending organizations. The round size might be increased in order to attract more investors. Oxfam Novib, ASN Bank, NOTS Foundation, and its management are among the founding members of Triple Jump.

Kinara Capital had raised INR 70 crore from Invest in Visions GmbH roughly six months prior to this occurrence (IIV). The European Union has designated the lendingtech startup as an ESG.

Kinara Capital, situated in Bengaluru, was founded in 2011 by Hardika Shah and offers unsecured collateral-free loans to MSMEs in the range of INR 1 lakh to INR 30 lakh. The startup claims to have disbursed over INR 2,400 crore through 65,000 loans, generating $100 million in revenue for companies. The MSME loan startup also claims to have helped over 250K people find work.

For the financial year FY22- FY23, Kinara Capital has contributed INR 200 crore through HerVikas, a women-owned company financing initiative. Kinara has now disbursed more than INR 125 crore in loans through the HerVikas program, which includes 2,000 HerVikas enterprise loans. To date, the lengitech startup claims to have helped 6,000 women entrepreneurs, with 28% of them being return customers. Kinara Capital has more than 110 branches in India, distributed throughout 90 cities.

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