Neobank Kaleidofin bags $10m Series B

India-based neobank Kaleidofin has raked in $10m from a Series B headed by the Michael and Susan Dell Foundation.

Investors who took part in the Series B included Flourish Ventures, Oiko Credit, Omidyar Network, Blume Ventures and Bharat Fund. Following this round, Kaleidofin has raised a total of $18m since inception.

Founded in 2017, Kaleidofin is a FinTech company that aims to help underbanked customers meet their financial goals by providing tailored financial solutions.

The company offers goal-based savings accounts and payment service, machine learning-based credit checks for consumer loans and a platform for lending and debt capital markets use cases. The business claims it has over one million active customers across India currently.

Kaleidofin co-founder Puneet Gupta said, “We look forward to scaling up the Kaleidocredit business line and drive deep loan product innovation focused on the informal customer and nano business. To this end, we will deepen our investments in developing our technology, risk management and data science capabilities”

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