Kinara Capital
Kinara Capital secures USD 10 million from IndusInd Bank with 100 percent guaranty from U.S. International Development Finance Corporation (DFC) ANI | Updated: Feb 22, 2021 15:19 IST
Bengaluru (Karnataka) [India], February 22 (ANI/BusinessWire India): Kinara Capital, a socially responsible fintech, today announced securing USD USD 10 million (INR 74 crores) from IndusInd Bank with a 100 per cent guaranty from the U.S. International Development Finance Corporation (DFC). This is a part of a debt and equity round of INR 100 crores, with equity contribution coming from Kinara s existing investors - Gaja Capital, GAWA Capital, Michael and Susan Dell Foundation (MSDF) and Patamar Capital.
This investment will be utilized by Kinara Capital towards the expansion of MSME financial inclusion across manufacturing, trading, and services sectors in India. Kinara Capital is at the forefront of driving financial inclusion in India and has d
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Kinara Capital get $10 mn funding from IndusInd Bank; also 100% guarantee from US Int’l DFC
February 22, 2021
Funds to be used for expansion of MSME financial inclusion across manufacturing, trading, and services sectors
Kinara Capital on Monday announced securing $10 million from IndusInd Bank with a 100 per cent guarantee from the US International Development Finance Corporation (DFC).
“This is part of a debt and equity round of ₹100 crore, with equity contributions coming from Kinara’s existing investors Gaja Capital, GAWA Capital, Michael & Susan Dell Foundation (MSDF) and Patamar Capital,” it said in a statement.
The investment will be used by Kinara Capital towards the expansion of MSME financial inclusion across manufacturing, trading, and services sectors in India.
The funds will be used by Kinara Capital for expanding financial inclusion of MSMEs, across manufacturing, trading, and services sectors in India. It has has disbursed Rs2,000 crore across 56,000 collateral-free small business loans
Using debt for impact
Sudy Sampathkumar is a partner in The Bridgespan Group’s Mumbai office. He recently joined Bridgespan from Bain & Company, and has more than 30 years of consulting and private equity experience. Sudy has deep experience in strategy, performance improvement, and organisational consulting across a wide range of sectors, and he has published a number of articles in business and news magazines and newspapers in India.
Sam Whittemore is a manager in Bridgespan’s Boston office. Since joining the organisation in 2015, he has worked on a range of cases with impact investors, foundations, and non-profit organisations. Sam’s impact investing work involves designing and implementing due diligence methodology and processes for various impact investing funds, with a focus on the potential impact of investments.