Fintech startup Kaleidofin raised USD 13.8 million in a round led by Rabo Partnerships. Existing investors Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Flourish have also participated in the round, as per the media report.
The fresh proceeds will be used to scale its lending portfolio and expand credit scoring, middleware, and risk services through selected partnerships.
This takes the total funds raised by kaleidofin since its inception to USD 37 million. In May 2022, the Chennai-based startup has raised USD 15 million in its Series B round led by the Michael and Susan Dell Foundation and others in two tranches in the same year.
Led by Sucharita Mukherjee and Puneet Gupta, Kaleidofin offers products such as KaleidoGoals, a goal-based savings solution; KiScore, a supervised machine learning-based automated credit health checking platform for informal sectors; KaleidoCredit, a credit as a platform service for lending and debt capital markets use cases; and KaleidoPay, a suite of inclusive payment solutions.
The company reported that it has enabled loan disbursements totaling over USD 2.7 billion for more than 4.7 million customers and small businesses operating in the informal economy since 2020
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