Kinara Capital Raises Around Rs 200 Cr In Fresh Equity From BII, Others
Kinara Capital, an MSME fintech empowering India’s small business entrepreneurs, has announced the close of a fresh equity round of around Rs 200 crore led by British International Investment (BII).
The funding round also saw participation from existing equity investors Nuveen and the ASN Microcredit Fund advised by Triple Jump.
As per the fintech lender, this equity investment will help propel Kinara Capital to grow 5X by 2025. Additionally, it will help the firm reach an AUM (assets under management) of Rs 6,000 crore by democratising access to formal financial inclusion with its myKinara app.
Kinara Capital | MSME Lender
Founded by Hardika Shah, Kinara Capital is a fintech firm driving last-mile financial inclusion of small business entrepreneurs in India by providing fast & flexible collateral-free business loans.
Speaking about the development, Hardika Shah, Founder and CEO of Kinara Capital, said,
“We are honoured to onboard British International Investment (BII) as our latest equity investor. The combined expertise and capital infusion from BII, Nuveen and Triple Jump will expand Kinara Capital’s offerings to meet the rising demand of the MSME sector in India.”
In the next three years, the fintech lender plans to reach over 200,000 MSMEs across 100+ cities in India. As per the firm, the social impact of this growth is expected to support over one million jobs in local economies and generate over Rs 3,000 crore in incremental income for small business entrepreneurs.
Kinara Capital’s other main equity investors include Gaja Capital, GAWA Capital, Patamar Capital, and Michael and Susan Dell Foundation (MSDF).
Commenting on the development, Manav Bansal, Managing Director and Head of India, British International Investment, said,
“BII seeks to invest in companies that demonstrate strong development impact capacity and offer tech-enabled innovative solutions with high potential for scalability. Kinara Capital meets these criteria, and we are especially excited by its commitment to helping to expand financial inclusion to MSMEs, including increasing women’s access to finance, which in turn promotes women’s entrepreneurship.”
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