Kinara Capital Secures INR 200 Cr From UK’s BII


Small business lender Kinara Capital announces that it has bagged Rs 200 crore (around $25 million) in a financing round led by UK’s development finance institution (DFI) British International Investment (BII).

Existing investors such as Nuveen Global Impact Fund and ASN Microkredietfonds, a listed and regulated Dutch microfinance fund advised by Triple Jump also took part in the the round. With this development, the Bengaluru-based fintech firm’s total equity fundraise stands at $90 million since its foundation in 2011.

In April this year, the MSME-focused lender had last raised an equity round of Rs 380 crore (around $50 million) from two new global investors led by Nuveen Global Impact Fund, along with Dutch investor Triple Jump.

Founded in 1948 as CDC, which was rebranded as British International Investment beginning April 2022. So far the firm has an existing portfolio of over $2 billion in India. Globally, in the last five years it has invested around Rs 69,620 crore.

In 2021, BII has announced that It will invest about $1 billion in climate funding in India over the next five years. Over the last four years, CDC has invested over $1 billion in climate finance across Africa and South Asia.

Kinara is a non-banking financial company (NBFC) run by Visage Holdings and Finance, which Shah founded more than a decade ago. It has 125 branches in six states and plans to expand into one more in the coming year, either Madhya Pradesh or Rajasthan.

In October last year, Kinara Capital had raised debt financing of Rs 70 crore from Invest in Visions GmbH (IIV). Kinara Capital counts investors such as Gaja Capital, GAWA Capital, Michael and Susan Dell Foundation and Patamar Capital as equity investors.

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