New Delhi, Oct 29 (KNN) Michael and Susan Dell Foundation will be investing in micro, small, and medium enterprises (MSMEs) focused Kinara Capital, according to a media report.

The financial support will help Kinara Capital in expanding their operations in India, bringing new aspects to the foundation’s existing catalytic portfolio of initiatives that helps provide financial services to urban poor families in India.

CEO and Founder of Kinara Capital Hardika Shah said the recognition and support from the foundation will surge Kinara’s efforts to expand its operations to new geographies and deploy field agent technology to increase operational efficiency and improve customer service.

According to the report, Country Director, India, Michael and Susan Dell Foundation Debasish Mitter said Kinara Capital caught their attention because of their innovative approach towards solving the sizeable lending issues in India for the MSMEs that contribute to more than 20 per cent of the nation’s GDP.

Kinara Capital provides collateral free loans in the range of Rs 50,000 to Rs 10,00,000 for asset finance and working capital to MSMEs.

The Family Economic Stability portfolio of Michael and Susan Dell Foundation includes more than 25 microfinance and skill training institutions. (KNN/ST)