Kaabil Finance Secures $3 Million in Pre-Series A Funding Round
- ByStartupStory | November 2, 2023
Kaabil Finance, an MSME loan provider based in Jaipur, has successfully raised $3 million in pre-Series A funding, with 2point2 Capital leading the investment round. The funding also includes participation from a group of high-net-worth investors. The company announced that these funds will be utilized to strengthen its MSME loan portfolio and enhance its credit, risk, collections, and technology teams.
Founded in 2018 by Ramavtar Meena, Kaabil Finance specializes in offering nano and micro-loans to small and medium-sized businesses, with loan amounts reaching up to Rs 3 lakh. Their ambitious goal is to achieve assets under management of Rs 1,000 crore within 1,000 days.
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Ramavtar Meena, the Founder and CEO of Kaabil Finance, expressed his excitement about the support received from a group of high-caliber investors, stating, “We are elated with the support of such a high-caliber group of investors. This investment will allow us to accelerate our growth and continue to create a positive impact for our target customer segment.”
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