BUSINESS

Neobank Kaleidofin Raises $10 Million in Series B Round of Funding

Kaleidofin, a neobank, announced that it had raised $10 million in its series B funding round, led by the Michael & Susan Dell Foundation. This takes the total funding raised by Kaleidofin to date to $18 million. Existing institutional investors, Oiko Credit, Flourish Ventures, Omidyar Network, Blume Ventures and Bharat Fund participated in the Series B round.

Kaleidofin’s key product lines are: KaleidoGoals, a goal-based savings solution, KiScore, a supervised machine learning-based automated credit health check for informal sector customers, KaleidoCredit, credit as a platform service for lending and debt capital markets use cases and KaleidoPay, a suite of inclusive payment solutions. Across product lines, Kaleidofin has over one million active transacting customers across India. It has created a localised and accessible footprint across 230 districts and 14 states in semi-urban and rural India.

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