Total amount raised
$36.7 Millions
Latest funding date
Location
Kaleidofin has successfully raised $13.8 million in its latest funding round, with contributions from Rabo Partnerships and other investors. The platform offers a range of financial services, including savings, investment, credit, and insurance, tailored to meet the needs of underbanked individuals and households.
Keep reading to explore the intricacies of Kaleidofin's fundraising journey and the investors backing this innovative platform.
What Is Kaleidofin?
Kaleidofin, founded in 2017, is a fintech company headquartered in Chennai, Tamil Nadu, India. The company was co-founded by Sucharita Mukherjee and Natasha Jethanandani. It operates within the financial technology industry, focusing on providing inclusive financial solutions.
With an employee count ranging between 101-250, Kaleidofin aims to democratize finance through a scalable and adaptable platform. The company offers goal-based financial services using advanced machine learning and suitability engines, catering to various life stages of customers.
How Much Funding Has Kaleidofin Raised?
- Seed Round
- Amount Raised: $2.8M
- Date: April 2018
- Lead Investors: Omidyar Network India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial suite of financial products aimed at underbanked individuals.
- Series A
- Amount Raised: ₹360M
- Date: December 2019
- Lead Investors: Oikocredit International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their customer base and enhance their technology platform.
- Non-Equity Assistance
- Amount Raised: Not disclosed
- Date: May 2020
- Lead Investors: T-Hub
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To receive strategic support and resources for scaling operations.
- Series B
- Amount Raised: ₹740M
- Date: January 2022
- Lead Investors: Michael & Susan Dell Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale their lending portfolio and enhance their credit scoring and risk management services.
- Series B (Second Tranche)
- Amount Raised: $5M
- Date: May 2022
- Lead Investors: Michael & Susan Dell Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding their financial services and reach more underbanked customers.
- Venture Round
- Amount Raised: ₹1.2B
- Date: September 2024
- Lead Investors: Rabo Partnerships
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their lending portfolio and expand their technology and risk services.
Total Amount Raised: $37M
Current Valuation: Not publicly disclosed
Key Investors
- Rabo Partnerships
- Details: Rabo Partnerships is a subsidiary of the Rabobank Group, focusing on financial inclusion and rural development. They aim to improve access to financial services for underserved populations.
- Investment Focus Areas: Financial inclusion, agriculture, rural development.
- Notable Investments: Primarily invests in companies that align with its focus on financial inclusion and sustainable agriculture.
- Michael & Susan Dell Foundation
- Details: The Michael & Susan Dell Foundation is a philanthropic organization dedicated to transforming the lives of children living in urban poverty. They focus on better education, family economic stability, and health.
- Investment Focus Areas: Education, health, family economic stability.
- Notable Investments: Various initiatives in education, health, and financial inclusion projects.
- Oikocredit
- Details: Oikocredit is a social impact investor and worldwide cooperative that promotes sustainable development. They provide loans, equity investments, and capacity building to microfinance institutions, cooperatives, and small to medium enterprises.
- Investment Focus Areas: Financial inclusion, agriculture, renewable energy.
- Notable Investments: Microfinance institutions, agricultural cooperatives, renewable energy projects.
- Omidyar Network India
- Details: Omidyar Network India is an investment firm focused on social impact, founded by Pierre Omidyar, the founder of eBay. They support innovative organizations aiming to create social impact.
- Investment Focus Areas: Digital identity, education, financial inclusion, property rights.
- Notable Investments: 1mg, Aspiring Minds, Quikr.
- Flourish Ventures
- Details: Flourish Ventures is a global venture capital firm investing in entrepreneurs whose innovations help people achieve financial health and prosperity. They are a venture of the Omidyar Group.
- Investment Focus Areas: Financial health, prosperity, fintech.
- Notable Investments: Chime, Aspiration, Kin.
What's Next for Kaleidofin?
With the recent $13.8 million funding round, Kaleidofin is poised to seize significant opportunities in the financial services sector. The company plans to expand its lending portfolio and enhance its credit scoring, middleware, and risk services. Leveraging partnerships with organizations like Rabo Partnerships, Kaleidofin aims to serve millions of underserved customers and small enterprises in India's informal economy, particularly in the agricultural sector.
Future fundraising opportunities appear promising, given the strong backing from prominent investors such as the Michael & Susan Dell Foundation and Omidyar Network India. These funds will likely support further scaling of operations and technological advancements. However, Kaleidofin will need to navigate regulatory challenges, ensure data security, and compete with other fintech companies to maintain its growth trajectory.
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