Small business lender Kinara Capital on Monday announced securing $ ten million (Rs 74 crore) from IndusInd Bank with a 100 per cent guarantee from the US International Development Finance Corporation (IDFC).
Bangalore:
This is part of a debt and equity round of Rs 100 crore, with equity contribution coming from the Bengaluru-based Kinara’s existing investors Gaja Capital, GAWA Capital, Michael & Susan Dell Foundation and Patamar Capital, the fintech non-banking financial firm said. “This investment will be utilised towards the expansion of MSME financial inclusion across manufacturing, trading, and services sectors in India,” it said.
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