Chennai-based fintech company Kaleidofin Private Limited has acquired a $5.3 million stake from IDH Farmfit Fund, a mixed financial impact fund focused on the value chain of small holders. This raises the current round of equity infusion to $19 million. The company earlier announced a $13.8 million investment led by Rabo Partnerships, which also sees investments from existing investors – Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Forning Fenerish Ventures.
This investment will help Kaleidofin expand its loan portfolio and expand credit scores, middleware and risk services through selected partnerships. The investment will bring the total fund raised by Kaleidofin since its inception to $42 million.
Kaleidofin and IDH Farmfit Fund will promote financial inclusion by expanding access to financial services for smallholders, including dairy products, agricultural alliance sectors, agricultural workers and agribusinesses. The partnership focuses on the development of professional Ki Score, a credit health assessment product designed to meet the unique needs of the agricultural sector. The initiative will transform agricultural loans by customizing financial products for livestock, agricultural equipment, automation, sustainable agriculture and climate-friendly agricultural practices beyond common term loans.
“Small farmers are an important part of the economy, but they still remain underfunded in formal financial services. Through their partnership with IDH Farmfit Fund, our goal is to change that by creating dedicated financial products to cater to the unique needs of farmers,” said Sustarita Mukherjee, co-founder and CEO of Kaleidofin.
“The increased underwriting and tailoring of small-farmer loans, coupled with more effective origins and distribution, can catalyze the appropriate credit flow to India and other markets underserved,” added Som Toohey, investment director at IDH Investment Management.
Founded in 2017, Kaleidofin provides financial solutions for low-income clients/enterprises working in the informal economy through the Kaleidofin platform. In India, the platform has explained over $4.5 billion of informal economy work for more than $4.5 billion of debt capital.
publishing – May 2, 2025 at 11:32 pm ist
