Existing equity investors
With this financing
“The combined expertise and capital injection of BII, Nuveen and Triple Jump will expand Kinara Capital’s offering to meet the rising demand of the SME sector in India. With this support, we, at Kinara Capital, are further motivated to fulfill our mission of financial inclusion,” said Hardika Shah, founder and CEO of Kinara Capital.
More than 300 MSME sub-sectors in manufacturing, trade and service sectors can digitally leverage ‘myKinara’ unsecured business loans in the range of Rs 1-30 lakh.
Kinara Capital plans to reach more than 2,000,000 SMEs in more than 100 cities over the next three years.
The social impact of this growth is expected to support more than 1 million jobs in local economies and generate more than Rs 3,000 crore in incremental income for small business owners, the company said.
“Women-led fintech company Kinara is advocating for women’s empowerment and providing easier access to capital for small entrepreneurs across India. The UK government is proud to support the company with BII’s investment,” said Alex Ellis, UK High Commissioner to India.
Kinara Capital’s other major equity investors include Gaja Capital, GAWA Capital, Michael &
“We are excited to participate in this investment round for Kinara Capital, which we believe is at the forefront of driving financial inclusion with its digital processes combined with a personalized approach,” said
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