Kinara Capital raises Rs 200 cr to meet rising demand of MSMEs

New Delhi, Oct 28 (KNN) To extend its support for MSMEs, Kinara Capital announced on Friday that it has successfully raised Rs 200 crore led by British International Investment (BII).

The latter is UK's development finance institution and impact investor and Kinara Capital offers unsecured business loans for MSMEs.

With this funding, Kinara Capital aims to grow 5 times by 2025 and reach an asset under management (AUM) of Rs 6,000 crore. 

"The combined expertise and capital infusion from BII, Nuveen and Triple Jump, will expand Kinara Capital's offerings to meet the rising demand of the MSME sector in India. With this support, we, at Kinara Capital, are further motivated to deliver on our mission of financial inclusion," said Hardika Shah, Founder and CEO of Kinara Capital. 

Collateral-free business loans ‘myKinara' in the range of Rs 1-30 lakh is digitally available for over 300 MSME sub-sectors across manufacturing, trading and services sectors.

Kinara Capital plans to reach over 2,00,000 MSMEs across more than 100 cities in the next three years. 

The social impact of this growth is expected to support over 1 million jobs in local economies and generate over Rs 3,000 crore in incremental income for small business entrepreneurs, said the company.   (KNN Bureau)