(MENAFN- KNN India)
MSME fintech Kinara Capital bags Rs 380 Cr in equity, led by Nuveen
New Delhi, April 20 (KNN) Kinara Capital, a MSME fintech, closed a fresh equity round of Rs 380 crores led by Nuveen, a global investment manager with over USD 1.3 trillion of assets under management.
This new equity investment will lead to Kinara's expansion of products and services to meet the rapidly increasing MSME credit demand in India.
Kinara Capital aims to grow by 500% by 2025 with plans to disburse Rs 10,000 crores of MSME business loans in the next three years.
Hardika Shah, Founder & CEO, Kinara Capital, said,“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”.
This round of equity financing for Kinara Capital comes from Nuveen's Global Impact Fund which focuses on transformative companies' impact value chains for low-income consumers and from the ASN Microkredietfonds, a listed and regulated Dutch microfinance fund advised by Triple Jump. (KNN Bureau)
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