Informal sector-focused fintech firm Kaleidofin raises $15-M led by MSDF

Chennai-based fintech firm Kaleidofin has raised close to USD 15 million in a Series B equity round led by the Michael and Susan Dell Foundation, taking the firm's total fundraise to USD 23 million. Other participants in the round include Bill & Melinda Gates Foundation's Seattle-based Strategic Investment Fund, angel investors and existing investors. The proceeds of this round will be used to strengthen tailored credit solutions for informal sector customers. Kaleidofin aims to increase access and usage of formal digital financial services for informal sector customers in a way that can have a transformational impact on customers' lives.