09 May 2019, India:
Fintech firm Kinara Capital has today announced that it has secured funding of ₹100 crores from private equity and impact investors Gaja Capital, GAWA Capital, Michael & Susan Dell Foundation and Patamar Capital.
The company will use the fresh capital to accelerate it’s growth in new and existing markets and increase its investment in technology to improve customer experience and assess credit decisions at a faster rate.
“We are honored with the vote of confidence from our investors as we aim to reach new milestones by investing in our people and technology. Impact-focused sustainable growth is at the heart of all that we do to create access to capital for small business entrepreneurs,” said Hardika Shah, Founder and CEO of Kinara Capital.
Hardika Shah, added, “When committed to transforming lives, we believe in leading by example – we run a profitable organization that practices integrity, transparency, and treats customers with dignity.”
Kinara Capital will now expand investment in services that refine the customer experience with features such as autopay and auto-disbursement. On the backend, the company will further develop its proprietary machine-learning lending algorithms to fast track financial inclusion for thousands of small business entrepreneurs, the company said in a statement.
The company has disbursed ₹1160 crores across 33,785+ loans to date, the statement added.
(Image – Kinara Capital)