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Kinara Capital secures USD 10 million from IndusInd Bank

Kinara Capital secures USD 10 million from IndusInd Bank
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Kinara Capital get $10 mn funding from IndusInd Bank; also 100% guarantee from US Int l DFC

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.

Non-banking lender Kinara Capital secures $10 million from IndusInd Bank

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.

Kinara Capital secures $10 million in funding from IndusInd Bank

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

Kinara Capital Secures USD 10 Million from IndusInd Bank with 100 Percent Guaranty from U S International Development Finance Corporation (DFC)

Kinara Capital Secures USD 10 Million from IndusInd Bank with 100 Percent Guaranty from U S International Development Finance Corporation (DFC)
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