Kinara Capital, a fintech company serving small business entrepreneurs, on Friday announced closing a fresh equity round of approximately Rs 200 crore led by British International Investment (BII), the UK's development finance institution.
"Existing equity investors Nuveen and the ASN Microkredietfonds advised by Triple Jump also participated in this round," it said in a statement.
"This equity investment will aim to 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," the statement said.
Bengaluru-headquartered Kinara Capital said it plans to reach over two lakh MSMEs across 100-plus cities in India in the next three years.
British High Commissioner to India, Alex Ellis, was quoted as saying: "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.
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First Published: Oct 28 2022 | 2:59 PM IST