Synopsis
Indifi has forayed into the pharma segment and will be extending its credit line solution to retailers - especially pharma distributors and local chemists - for managing their working capital needs and cash flows.
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These funds will be used for onward lending to MSMEs to accelerate post-Covid economic recovery.
Indifi Technologies announced Rs 35 crore debt financing from IndusInd Bank Ltd, with a guaranty from US International Development Finance Corporation (DFC). These funds are deployed through Rs 35 crore of term loan from IndusInd Bank’s impact investing group to Riviera Investors Private Limited which is Indifi’s in-house NBFC arm. These funds will be used for onward lending to small businesses (MSMEs) to accelerate post-Covid economic recovery.
[Funding alert] Lending platform Indifi raises $5M in debt financing yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
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
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.
Small businesses-focused non-banking lender Kinara Capital has secured USD 10 million from IndusInd Bank with 100 per cent guarantee from the US International Development Finance Corporation. The Bengaluru-based NBFC, which has so far disbursed Rs 2,000 crore collateral-free small business loans to over to over 56,000 customers since inception, said it will use the money for on-lending to small businesses over the next five years. It said the latest debt funding is part of a debt and equity round of Rs 100 crore, with equity contribution coming from existing investors Gaja Capital, Gawa Capital, Michael and Susan Dell Foundation and Patamar Capital. Kinara lends to MSMEs across manufacturing, trading and services sectors, Hardika Shah, founder and chief executive said.