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Kinara Capital secures funding from Michael & Susan Dell Foundation [India Business] [Times of India]
[October 30, 2014]

Kinara Capital secures funding from Michael & Susan Dell Foundation [India Business] [Times of India]


(Times of India Via Acquire Media NewsEdge) BANGALORE: Bangalore-based social enterprise Kinara Capital has received an equity investment from the Michael & Susan Dell Foundation. This investment will support Kinara's efforts to expand their operations in India and adds a new facet to the Michael & Susan Dell Foundation's existing portfolio of initiatives that helps provide financial services to urban poor families in the country. The Dell family foundation will hold a minority equity stake in the company and Satyam Darmora, portfolio lead in the foundation will join the board of directors. The family economic stability portfolio of Michael & Susan Dell Foundation includes more than 25 microfinance and skill training institutions.



Kinara Capital is addressing the Rs 1 trillion debt gap between microfinance and commercial capital by providing collateral free loans in the range of Rs 50,000 to Rs 10 lakh for asset finance and working capital to MSMEs. Kinara aims to create 100,000 new jobs and impact 1 million lives in five years in India. "We are continuously innovating on how to meet the financial needs of these entrepreneurs who are often excluded by the traditional banking system. This 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," Hardika Shah, CEO and founder of Kinara Capital.

Since its launch in 2011, Kinara Capital has financed over 1,200 loans with a 99.9% recovery rate. Kinara funds a wide range of MSMEs; over 80% of their portfolio is in urban areas and spans a variety of small scale manufacturing businesses such as auto parts, electrical components, kitchen appliances, artisan products, eco-friendly products, agri-equipment and packaging products.


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