Kinara Capital, an MSME fintech, has closed a fresh equity round of Rs 380 crore led by Nuveen, a global investment manager with over $1.3 trillion of assets under management (AUM), and with participation from Triple Jump, a Dutch impact-focused investment manager advising the ASN Microkredietfonds.
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This investment will help Kinara expand its products and services to meet the rapidly rising MSME credit demand in India. Kinara Capital aims to grow 500 per cent by 2025, with plans to disburse Rs 10,000 crore worth of MSME business loans in the next three years, according to a company statement.
Hardika Shah, Founder & CEO of Kinara Capital, said, “This fresh equity round will energise us to scale faster to continue doing what we do best, bringing more small business entrepreneurs into the fold of financial inclusion.”
With this equity round, Kinara Capital has gained two new members on its board of directors. Nuveen’s managing director & co-head of private equity impact, Rekha Unnithan; and Nuveen’s director of private equity impact, Stephen Lee.
