Total amount raised
$36.7 Million
Latest funding date
09/01/2024
Location
Kaleidofin has successfully raised $13.8 million in a recent funding round, bringing the total number of funding rounds to seven. The platform offers a range of financial services, including savings, investment, credit, and insurance.
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 based in Chennai, Tamil Nadu, India. The company was established by Sucharita Mukherjee and Natasha Jethanandani.
Specializing in digital financial services, Kaleidofin offers a range of products including savings, investment, credit, and insurance. The company employs between 101 and 250 people and focuses on democratizing finance through advanced machine learning and suitability engines.
With a mission to ensure finance for everyone, Kaleidofin has built a scalable and adaptable platform that integrates with various financial institutions. The company has a significant customer base and numerous partnerships across India.
How Much Funding Has Kaleidofin Raised?
- Seed Round
- Amount Raised: $2,800,000
- 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.
- Series A
- Amount Raised: $4,800,000
- Date: December 2019
- Lead Investors: Oikocredit International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their technology platform.
- Non-Equity Assistance
- Amount Raised: Not publicly 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 growth.
- Series B
- Amount Raised: $5,000,000
- Date: January 2022
- Lead Investors: Michael & Susan Dell Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their lending portfolio and enhance credit scoring services.
- Series B
- Amount Raised: $10,000,000
- Date: May 2022
- Lead Investors: Michael & Susan Dell Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand their product offerings and market reach.
- Series Unknown
- Amount Raised: $15,500,000
- Date: September 2024
- Lead Investors: Rabo Partnerships
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and development efforts.
- Series Unknown
- Amount Raised: $5,800,000
- Date: May 2025
- Lead Investors: IDH
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their lending portfolio and enhance technology services.
Total Amount Raised: $43,900,000
Current Valuation: Not publicly disclosed
Key Investors
- Rabo Partnerships
- Details: Rabo Partnerships is an investment arm of Rabobank, focusing on financial inclusion and sustainable development.
- Investment Focus Areas: Financial inclusion, sustainable agriculture, rural development.
- Notable Investments: Financial institutions and fintech companies in emerging markets.
- Michael & Susan Dell Foundation
- Details: A philanthropic organization founded by Michael and Susan Dell, focusing on transforming the lives of children living in urban poverty.
- Investment Focus Areas: Education, health, family economic stability.
- Notable Investments: Education technology, healthcare solutions, financial services for low-income families.
- Oikocredit
- Details: A social impact investor and worldwide cooperative that promotes sustainable development by providing loans, equity investments, and capacity building.
- Investment Focus Areas: Financial inclusion, agriculture, renewable energy.
- Notable Investments: Microfinance institutions, agricultural cooperatives, renewable energy projects.
- Omidyar Network India
- Details: Part of the Omidyar Network, a philanthropic investment firm established by eBay founder Pierre Omidyar.
- Investment Focus Areas: Digital identity, education, emerging tech, financial inclusion, property rights.
- Notable Investments: Startups and organizations in education, financial services, and property rights.
- Flourish Ventures
- Details: A venture firm that invests in entrepreneurs whose innovations help people achieve financial health and prosperity.
- Investment Focus Areas: Financial health, economic opportunity, digital infrastructure.
- Notable Investments: Fintech startups, digital banking solutions, platforms enhancing financial inclusion.
What's Next for Kaleidofin?
As Kaleidofin looks to the future, the company is poised to capitalize on significant opportunities in the Indian rural economy. With 61% of the population dependent on agriculture, the potential for growth is immense. The recent $13.8 million funding round will enable Kaleidofin to expand its lending portfolio and enhance its credit scoring and risk services, particularly targeting underserved customers and small enterprises.
Future fundraising opportunities appear promising, given the strong backing from notable investors like Rabo Partnerships and the Michael & Susan Dell Foundation. These funds will be crucial for scaling operations and developing new financial products. However, challenges such as navigating the complexities of the informal economy and competing with other fintech companies remain. By leveraging strategic partnerships and focusing on technology-driven solutions, Kaleidofin aims to overcome these hurdles and continue its mission of democratizing financial services in India.
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