Kinara Capital: Small business lender Kinara Capital secures $10 million from IndusInd Bank

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BENGALURU: Bengaluru-based small business lender Kinara Capital on Monday introduced securing $10 million million (Rs 74 crore) from with a 100 per cent warranty from the U.S. International Development Finance Corporation (DFC).

This is a part of a debt and fairness spherical of Rs 100 crore, with fairness contribution coming from Kinara’s present traders Gaja Capital, GAWA Capital, Michael & Susan Dell Foundation and Patamar Capital, the fintech non-banking monetary firm stated in an announcement.

“This investment will be utilised by Kinara Capital towards the expansion of MSME financial inclusion across manufacturing, trading, and services sectors in India,” it stated.

Kinara Capital has disbursed Rs 2,000 crore throughout 56,000-plus collateral-free small business loans, the assertion added.

The $10 million funding for onward lending to small business entrepreneurs will likely be deployed over 5 years from IndusInd Banks influence investing division with full backing from DFC, a part of the US federal authorities.

“This three-way partnership between Kinara Capital, IndusInd Bank and DFC unites the organisations shared goals to promote entrepreneurship, financial inclusion and job creation,” it was said.





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