Neobank Kaleidofin rakes in $15 Mn in Series B [The Tech Portal]
Chennai based Neo-finance startup Kaleidofin Neobank has raised $15 Mn lead by Michael and Susan Dell foundation. The round also saw participation from Bill and Melinda Gates foundation’s Seattle based strategic investment fund, existing investors (OikoCredit, Flourish Ventures, Blume Ventures, Omidyar Network) and some minor contributions from angel investors.
Kaleidofin, founded by Sucharita Mukherjee and Puneet Gupta in 2017, is a Neobank that has its target demographic in the 600 million-strong informal sector of India. The company aims to bring banking and other financial solutions in easy access to these customers, who are rather unexplored by other Fintechs. Kaleidofin helps bring banking services to the smartphones of these users, as transition to digital finance seems to have passed over them till now.