Chennai-based fintech neobank Kaleidofin has raised $5.3 million (around ₹44.5 crore) in fresh funding from the IDH Farmfit Fund.
The fund will be used to grow its lending portfolio and expand services such as credit scoring, middleware infrastructure, and risk management through new partnerships.
Kaleidofin, founded in 2017 by former IFMR Holdings executives Sucharita Mukherjee and Puneet Gupta, focuses on offering tailored financial products to underserved and underbanked communities across India.
Its goal is to improve access to formal financial services for low-income individuals, informal businesses, and those in agriculture and allied sectors.
The company’s partnership with IDH Farmfit Fund aims to strengthen financial inclusion, especially for smallholder farmers, dairy workers, and agribusinesses.
Kaleidofin’s proprietary product “ki score agri,” a credit health assessment tool, is designed to help lenders better understand and manage risk in agricultural lending, enabling efficient capital flow to rural communities.
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This latest round follows a $13.8 million fundraise in September 2024. Backed by investors including Rabo Partnerships, Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India, and Flourish Ventures,
Kaleidofin has raised a total of $42 million to date.
Combining technology and on-the-ground partnerships with banks, MFIs, NBFCs, and NGOs, Kaleidofin is working to make financial products more accessible to India’s 600 million underbanked citizens, delivering services that are both scalable and contextually relevant.
