In a fresh fundraising round headed by Rabo Partnerships B.V., fintech startup Kaleidofin has raised $13.8 million. The round has also included participation from previous backers Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India, and Flourish.
With this, Kaleidofin has now raised $37 million in total since its founding.
The Chennai-based startup raised $15 million in two tranches in May 2022 for its Series B round, which was spearheaded by the Michael and Susan Dell Foundation and other investors.
Through carefully chosen partnerships, the new funds will be utilized to grow its lending portfolio and enhance credit scoring, middleware, and risk services.
Products from Kaleidofin, which is led by Sucharita Mukherjee and Puneet Gupta, include KaleidoGoals, a goal-based savings solution; KiScore, an automated credit health checking platform for the informal sector that is supervised by machine learning; KaleidoCredit, a credit as a platform service for lending and debt capital markets use cases; and KaleidoPay, a range of inclusive payment options.
Since 2020, the company says it has helped over 4.7 million customers and small businesses in the informal economy disburse loans totalling over $2.7 billion.
