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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
Synopsis
The $10 million investment for onward lending to small business entrepreneurs will be deployed over five years from IndusInd Banks impact investing division with full backing from DFC, part of the US federal government.
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Kinara Capital has disbursed Rs 2,000 crore across 56,000-plus collateral-free small business loans.
BENGALURU: Bengaluru-based small business lender Kinara Capital on Monday announced securing $10 million million (Rs 74 crore) from
IndusInd Bank with a 100 per cent guaranty from the U.S. International Development Finance Corporation (DFC).
This is part of a debt and equity round of Rs 100 crore, with equity contribution coming from Kinara s existing investors Gaja Capital, GAWA Capital, Michael & Susan Dell Foundation and Patamar Capital, the fintech non-banking financial company said in a statement.
Kinara Capital secures USD 10 million from IndusInd Bank saltlakecitysun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saltlakecitysun.com Daily Mail and Mail on Sunday newspapers.
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.