Fintech Firm Kaleidofin Secures $5.3 Mn To Boost Its Lending Portfolio

Kaleidofin, a fintech neobanking startup has raised $5.3 million (around Rs 44.5 Cr) in a fresh funding round from IDH Farmfit Fund.

The firm plans to use the fresh funds to grow its lending business and improve credit scoring, risk tools and software through new partnerships.

In a statement, Kaleidofin said it will also team up with IDH Farmfit Fund to help small farmers, dairy workers, and agribusinesses get better access to financial services and promote financial inclusion.

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“Through our collaboration with IDH Farmfit Fund, we aim to change this by creating specialised financial products that cater to the unique needs of farmers. “ki score agri”, a credit health assessment product designed to cater to the unique needs of the agricultural sector, will help lenders deepen their agri portfolios while improving risk management, ensuring that capital flows efficiently to those who need it most,” said Sucharita Mukherjee, cofounder and CEO of Kaleidofin.

Som Toohey, Investment Director, IDH Investment Management, said, “Enhanced underwriting and tailoring of smallholder farmer loans, coupled with more efficient origination and distribution, can catalyse the flow of appropriate credit to this underserved segment across India and other markets. Improving the quality of financial inclusion, encompassing client protection, is critical to increasing both income and climate resilience over time.”

Melinda Gróf, Investment Manager, IDH Investment Management, said, “Kaleidofin’s technology provides deep insight into borrower risk, enabling more precise credit decisions and wider access to finance for underserved agricultural communities. We’re excited to support this innovation, which has the potential to transform agri-lending and strengthen rural value chains.”

About Kaleidofin 

Founded in 2017 by Sucharita Mukherjee and Puneet Gupta, the Chennai-based Kaleidofin provides financial services to low-income and underbanked individuals and informal businesses. 

Its platform helps unlock credit by using credit assessments, tech tools, risk checks and access to debt markets.

The startup raised $13.8 million in September last year and is backed by investors like Rabo Partnerships, the Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Flourish Ventures.

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