Fintech company Kaleidofin has raised $13.8 million in funding to expand its lending portfolio by leveraging its Ki Score and credit scoring technology to provide financial services to the informal economy.
The round was led by Rabo Partnerships B.V., along with participation from existing investors, including the Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India, and Flourish. The funding will enhance Kaleidofin’s lending portfolio and expand its Ki Score risk infrastructure for the informal sector.
Founded in 2017, Kaleidofin provides financial services to low-income individuals and businesses in the informal economy. This new investment brings the total funds raised by the company to $37 million. The company has already facilitated over $2.7 billion in cumulative loan disbursements, supporting over 4.7 million customers and small businesses since 2020.
Kaleidofin Boosting Lending Capacity and Innovation
The capital infusion will allow Kaleidofin to expand its credit scoring and risk services. This includes partnerships with rural and agricultural lenders, helping them offer specialized loans, attract new customers, and implement more effective risk-based pricing. By transforming its product design, Kaleidofin aims to improve credit assessment in underserved markets.
Sucharita Mukherjee, Co-founder & CEO, kaleidofin said, “We believe that kaleidofin’s understanding of the Indian rural economy, where 61 percent of individuals are directly or indirectly dependent on agriculture, and Rabo Partnerships’ focus on the agri sector will further strengthen our capabilities in serving the customer, underwriting the customer and in offering customers and small businesses more suitable loans in the agri segment.”
Expanding Product Offerings
Kaleidofin’s product suite includes KaleidoGoals, a goal-based savings solution, and KiScore, an automated credit health checking tool using machine learning. Additionally, the company offers KaleidoCredit, a credit-as-a-service platform, and KaleidoPay, which delivers inclusive payment solutions. These tools empower informal sectors to access tailored financial services.
As Kaleidofin continues to innovate, this fresh funding will further its mission to bridge the financial gap for underbanked segments. By expanding its lending portfolio and improving credit risk infrastructure, the company is set to transform credit accessibility for millions.
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