Kinara Capital secures approx Rs 200 Cr in fresh equity from BII, others

Kinara Capital , a fintech lender for India’s small businesses, on Friday announced the close of a fresh equity round of around Rs 200 crore led by?British International Investment (BII). Existing equity investors Nuveen and the ASN Microkredietfonds advised by Triple Jump also participated in this round.

According to the company, this equity investment will help propel Kinara Capital to grow 5X by 2025 and reach an AUM (assets under management) of Rs 6,000 crore by democratising access to formal financial inclusion with its myKinara app.

Alex Ellis, British High Commissioner to India, said, “Women-led fintech company Kinara champions female empowerment and provides easier access to capital for small entrepreneurs across India. The British government is proud to support the company through BII's investment.”

Kinara Capital plans to reach over 200,000 MSMEs across 100+ cities in India in the next three years. The social impact of this growth is expected to support over one million jobs in local economies and generate over Rs 3,000 crore in incremental income for small business entrepreneurs.

Kinara Capital’s other main equity investors include Gaja Capital, GAWA Capital, Michael and Susan Dell Foundation (MSDF), and Patamar Capital. Edelweiss Financial Services Limited acted as the exclusive advisor for the transaction.

Hardika Shah, Founder and CEO, Kinara Capital,?said, “We are honoured to onboard British International Investment (BII) as our latest equity investor. The combined expertise and capital infusion from BII, Nuveen and Triple Jump, will expand Kinara Capital’s offerings to meet the rising demand of the MSME sector in India.”

Manav Bansal, Managing Director and Head of India, British International Investment, said,

“BII seeks to invest in companies that demonstrate strong development impact capacity and offer tech-enabled innovative solutions with high potential for scalability. Kinara Capital meets these criteria, and we are especially excited by its commitment to helping to expand financial inclusion to MSMEs, including increasing women’s access to finance which in turn promotes women’s entrepreneurship.”

Shishir Gupta, The Founder & CEO of StartupLanes said,

?Kinara Capital is a socially responsible fintech driving MSME financial inclusion. You are doing a terrific work. May you achieve all your goals and desires in life.

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