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Kinara Capital

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Kinara Capital
IndustryFinance
Founded2011
FounderHardika Shah
HeadquartersBangalore, Karnataka, India
Area served
India
ServicesFinancial Services, loan products
Websitehttps://kinaracapital.com/

Kinara Capital is a Bengaluru-based non-banking financial company headquartered in Bengaluru. Founded in 2011 by Hardika Shah, the company focuses on providing business loans to the micro, small, and medium enterprise (MSME) sector in India.[1][2][3]

History

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The company initially focused on providing loans to small businesses through its proprietary myKinara app. It provides digital, collateral-free loans to MSMEs, leveraging technology such as its AI-driven credit decisioning platform.[4]

As of 2024, Kinara Capital operates over 100 cities with branches across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Tamil Nadu, Telangana, and the Union Territory of Puducherry.[3]

The HerVikas Program, launched by Kinara Capital in 2019, is intended to support women entrepreneurs. In 2020, the company allocated INR 100 crore under the program to women-owned MSMEs.[5][6][7]

Funding

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Kinara Capital initially received funding from the Michael & Susan Dell Foundation and Patamar Capital. The company later secured equity investments from Gaja Capital and GAWA Capital.[8]

In 2017, Kinara Capital raised $15 million in a funding round led by private equity firm Gaja Capital. [9][10]

In 2022, the company raised ₹380 crore in an equity round led by Nuveen Global Impact Fund.[11][1]

In the same year, the company secured ₹200 crore in a funding round led by British International Investment, with participation from existing investors Nuveen Global Impact Fund and ASN Microkredietfonds, advised by Triple Jump.[3][12]

In 2024, Kinara Capital secured $24.4 million in debt funding from the Singapore-based Impact Investment Exchange (IIX) and the BlueOrchard Microfinance Fund.[6]

Awards and Recognitions

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In 2014, Kinara Capital won the Sankalp Social Enterprise Award for Financial Inclusion.[13]

In 2017, Kinara Capital was recognized as a leader in the field of financial inclusion by The Wall Street Journal for the Financial Inclusion Challenge 2017. The company won the Audience Choice Award.[14]

In 2019, Kinara Capital was recognized at the Global SME Finance Awards, organized by the SME Finance Forum, which is managed by the International Finance Corporation (IFC). Kinara Capital won the Gold Award in the Bank of the Year – Asia category and also received an Honorable Mention in the Women-Owned SME Bank of the Year category.[15]

Kinara Capital was recognized as one of India's Growth Champions by The Economic Times and Statista in 2020, 2021, 2022 and 2023.[16][17][18][19]

Kinara Capital was named one of the 500 High-Growth Companies in Asia-Pacific by the Financial Times and Statista in 2020, 2021, 2022, 2023 and 2024.[20]

In 2023, Kinara Capital was awarded the title of Best Lending Startup at the Global Fintech Awards.[21]

In 2024, Kinara Capital was recognized at the Global SME Finance Forum in São Paulo, Brazil. The company was honored with the Platinum Award in the SME Financier of the Year – Global category and the Silver Award in the SME Financier of the Year – Asia category.[22]

In 2024, Kinara Capital was recognized as a winner of the United Nations Women 2024 WEPs Awards India and Asia-Pacific in the Innovative Finance category.[23]

References

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  1. ^ a b "Fintech Kinara Capital secures ₹380 crore in equity funding led by Nuveen". mint. 2022-04-20. Retrieved 2025-02-21.
  2. ^ "Michael & Susan Dell Foundation backs MSME lender Kinara Capital". VCCircle. 2025-02-21. Retrieved 2025-02-21.
  3. ^ a b c Roy, Shubhobrota Dev (2022-10-28). "British International Investment leads ₹200 cr round in Kinara Capital". mint. Retrieved 2025-02-21.
  4. ^ Khan, Shariq (2024-06-18). "Kinara Capital's resilient model gives it 51% profit rise despite distress in fintech sector". The Economic Times. Retrieved 2025-02-21.
  5. ^ Bureau, BL Chennai (2023-08-18). "Kinara Capital to disburse ₹1,100 crore in TN, Puducherry in FY24". BusinessLine. Retrieved 2025-02-21. {{cite web}}: |last= has generic name (help)
  6. ^ a b Sil, Debarghya (2024-05-03). "Exclusive: Kinara Capital Bags $24.4 Mn Debt Funding From Impact Investment Exchange, BlueOrchard". Inc42 Media. Retrieved 2025-02-21.
  7. ^ "Kinara Capital Launches HerVikas Business Loans For Women; Commits to Disburse Rs. 100 Crores in FY20-21". The Times of India. 2020-03-04. Retrieved 2025-02-21.
  8. ^ Jaswal, Mansi (2022-07-24). "Real-life 'Swades': Mumbai-based woman left cushy US job to help desi businesses". mint. Retrieved 2025-02-21.
  9. ^ "Kinara Capital raises $15 mn from Gaja Capital, others". VCCircle. 2025-02-21. Retrieved 2025-02-21.
  10. ^ Gooptu, Biswarup (2017-10-13). "Kinara gets capital from Gaja, focus on MSME lending". The Economic Times. Retrieved 2025-02-21.
  11. ^ Shukla, Piyush (2022-04-19). "Kinara Capital raises Rs 380 crore in equity round led by Nuveen; to disburse Rs 10,000 crore MSME loans in 3 years". Moneycontrol. Retrieved 2025-02-21.
  12. ^ "Kinara Capital closes Rs 200 crore in fresh equity, led by British International Investment". Moneycontrol. 2022-10-28. Retrieved 2025-02-21.
  13. ^ https://www.sankalpforum.com/wp-content/uploads/2021/09/f58adb_d2dd0012de374749b5d305c19bec434e.pdf. Retrieved 2025-02-21. {{cite web}}: Missing or empty |title= (help)
  14. ^ "BIMA wins The Wall Street Journal's Financial Inclusion Challenge 2017". Dow Jones. 2017-06-13. Retrieved 2025-02-21.
  15. ^ "Kinara Capital wins global recognition with Gold Award as Bank of the Year-Asia". Moneycontrol. 2019-10-09. Retrieved 2025-02-21.
  16. ^ "India's Growth Champions 2020 ranks nation's fastest growing companies". The Economic Times. 2020-01-29. Retrieved 2025-02-21.
  17. ^ "India's Growth Champions return to the spotlight". The Economic Times. 2021-02-23. Retrieved 2025-02-21.
  18. ^ "India's Growth Champions return to the spotlight". The Economic Times. 2022-02-23. Retrieved 2025-02-21.
  19. ^ "Ranking – India's Growth Champions 2023". Statista R - Recognizing the Best. 2023-03-07. Retrieved 2025-02-21.
  20. ^ Kilby, Nathalie (2023-03-15). "FT ranking: High-Growth Companies Asia-Pacific 2023". Financial Times. Retrieved 2025-02-21.
  21. ^ "Global Fintech Awards 2023: Celebrating the Award Winners and Innovations". Global Fintech Fest Awards. Retrieved 2025-02-21.
  22. ^ "Kinara Capital Awarded at Global SME Finance Forum 2024". Devdiscourse. 2024-09-30. Retrieved 2025-02-21.
  23. ^ "UN Women Celebrates 24 Awardees of the 2024 Asia-Pacific Women's Empowerment Principles Awards". UN Women – Asia-Pacific. 2024-12-20. Retrieved 2025-02-21.
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