Small business lender Kinara Capital raised $10mn from IndusInd Bank
Kinara Capital, a lender to small businesses, raised $10 mn from IndusInd Bank with a 100 percent guarantee from the US International Development Finance Corporation (DFC).
Existing investors Gaja Capital, GAWA Capital, Michael & Susan Dell Foundation (MSDF), and Patamar Capital also participated in this round. Would use the cash towards expansion of MSME financial inclusion across manufacturing, trading, and services sectors in India.
Kinara Capital is a digital platform and helps to eliminate paperwork and save time for both customers and employees to fast-track the credit decision process. It claims to have disbursed Rs2,000 Cr so far across 56,000+ collateral-free small business loans.