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Fintech Startup Kaleidofin Raises $10 Mn To Serve Underbanked Segment


ItemDate=2022-01-12 16:31:00 Status=publish

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#News(General) [ via IoTGroup ]


The startup claims to have over a million active transacting customers in the country across more than 230 semi-urban and rural districts It uses multiple sources of information to create individual personas of the household and provide specific financial solutions Fintech neobanking startup Kaleidofin has raised $10 Mn in a Series B funding round led by Michael and Susan Dell Foundation.Existing investors Oikocredit Flourish Ventures Omidyar Network Blume Ventures and Bharat Fund also participated in the round.

Founded in 2017 by Sucharita Mukherjee and Puneet Gupta Kaleidofin claims to provide curated goal-based financial solutions to customers in underbanked segments using financial planning and wealth management tools.Kaleidofin’s platform tries to understand the financial goals of each customer’s household identify sources of financial vulnerability preferences and risk tolerance.It uses multiple sources of information including demographic profiles income sources asset ownership and others to create individual personas of the household and provide specific and relevant financial solutions.

“We look forward to scaling up the Kaleidocredit business line and driving deep into loan product innovation focused on the informal customer and nano business.To this end we will deepen our investments in developing our technology risk management and data science capabilities ” said Sucharita Mukherjee founder of Kaleidofin.Kaleidofin’s product lines include KaleidoGoals a goal-based savings solution; KiScore: a machine learning-based automated credit health check for informal sector customers; KaleidoCredit credit as a platform service; KaleidoPay an inclusive payments solution.The startup claims to have more than a million active transacting customers in the country across more than 230 semi-urban and rural districts in 14 states in the country.“Access to customizable credit for nano-entrepreneurs can unleash a growth wave for enterprises and the economy and also


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