Kinara secures investment from Michael & Susan Dell Foundation

Kinara Capital, which provide loans to micro, small and medium enterprises, today said it has secured investment from Michael & Susan Dell Foundation and others.
However, the financial details of the transaction were not disclosed.
"Michael & Susan Dell Foundation and Unitus Impact Fund today announced an increase in their stake in Kinara Capital, in a new round of equity investment led by Shriram City Union Finance Ltd," a statement noted.
Ensuing the funding, Subhasri Sriram, CFO and Executive Director of Shriram City Union Finance has joined Kinara Capital's Board of Directors.
Geoff Woolley, Managing Partner of Unitus Impact and Satyam Darmora representing Michael & Susan Dell Foundation have already been on board of Kinara since 2014.

The Dell family foundation had committed more than Rs 856 crore toward the effort to drive measurable social progress for India's children.
Founded in 2011, Kinara Capital is a non-banking financial company (NBFC) which provide collateral-free loans to entrepreneurs of micro-small-medium enterprises.
It has financed over 3,000 loans at a 99 per cent recovery rate and has created an Rs 50 crore.