Kaleidofin closes $15 Mn Series B round

Kaleidofin, a neobanking platform, has announced that it has closed a Series B round at $15 million led by the Michael and Susan Dell Foundation. The round also included the participation of the Bill & Melinda Gates Foundation’s Seattle-based Strategic Investment Fund, angel investors and existing investors.

The Chennai-based startup had raised $10 million as the first tranche of this round in January this year. The current fundraise takes the total funding raised by Kaleidofin to date to $23 million. 

The proceeds of this round will be used to strengthen tailored credit solutions for informal sector customers, it said in a press release.

Led by Sucharita Mukherjee and Puneet Gupta, Kaleidofin offers products such as KaleidoGoals, a goal-based savings solution; KiScore, a supervised machine learning-based automated credit health checking platform for informal sectors; KaleidoCredit, a credit as a platform service for lending and debt capital markets use cases; and KaleidoPay, a suite of inclusive payment solutions.

Kaleidofin claims to have over one million active transacting customers across India. The company said that it has a footprint across 230 districts and 14 states in semi-urban and rural India.