Fast-growing Fintech Kinara Capital Secures USD 50 million in Equity
Triple Jump B.V., through ASN Microkredietfonds, together with Nuveen, a leading global investment manager with over USD 1.3 trillion in assets under management, completed a joint transaction of USD 50 million into Kinara Capital. Kinara is a fast-growing fintech propelling financial inclusion of small business entrepreneurs in India. Leading with a women-majority management team, the company is globally recognized for disrupting MSME financing.
Hardika Shah, Founder & CEO of Kinara Capital said, “We at Kinara Capital are immensely thrilled with this dual investment. This is a true attestation of our sustainable business model and the vast MSME market opportunity ahead of us. This fresh equity round will energize us to scale faster so that we can continue doing what we do best, which is to bring more small business entrepreneurs into the fold of financial inclusion.”
Orsolya Farkas, Equity Manager, Triple Jump, said: “Triple Jump is proud to be part of this joint transaction into Kinara Capital which is leading with a sustainable business model and creating a systemic shift in how small business entrepreneurs should be considered and served, especially women entrepreneurs. Impact is core to Kinara’s business and the company has never wavered from its mission of financial inclusion. We are impressed by Kinara’s genuine commitment towards gender parity both within its organization by leading with a women-majority management team and with its HerVikas program for women entrepreneurs.”
Kinara’s products include collateral-free business loan offerings of Asset Purchase Loan for new or used machines, Long-Term Working Capital Loan, and Bill Discounting Loan which support ongoing needs such as shop renovations, purchase of stock or raw materials, machine repair, hiring of seasonal help, or related business growth requirements of a small business. Existing Kinara customers can further gain an advantage with lower-cost loans of shorter tenure by opting for a Short-Term Working Capital Loan or Loan Against Property. All women entrepreneurs qualify for an automatic discount with Kinara’s HerVikas program. In addition, Kinara offers free monthly informational workshops in multiple languages with its Grow with Kinara series.
To learn more about this transaction, read the full press release >