The fintech business Kaleidofin, located in Chennai, announced on Wednesday that it had raised $13.8 million in a funding round that was headed by Rabo Partnerships BV, a Dutch company, with participation from current investors.

One of Rabobank's subsidiaries, Rabo Partnerships BV, contributed $11 million in equity. Existing investors in the round included Flourish, Oikocredit, Omidyar Network India, and the Michael & Susan Dell Foundation. Kaleidofin offers low-income clients and informal economy enterprises financial solutions.

In total, $37 million funding has been raised by Kaleidofin. The Bill and Melinda Gates Foundation, the Michael & Susan Dell Foundation, Omidyar Network India, Oikocredit, Blume Ventures, Bharat Fund, and Flourish Ventures were among the investors who contributed $23 million to the company in 2022.

Founded in the year 2017, Kaleidofin has "facilitated" the disbursement of over $2.7 billion in loans for 4.7 million clients and informal economy businesses since 2020.

Sucharita Mukherjee, Co-Founder & Chief Executive officer - CEO of Kaleidofin states, “We believe that Kaleidofin’s understanding of the Indian rural economy, where 61 per cent of individuals are directly or indirectly dependent on agriculture, and Rabo Partnerships’ focus on the agriculture sector will further strengthen our capabilities in serving the customer, underwriting the customer, and offering customers and small businesses more suitable loans in the agriculture segment”.

Marianne Schoemaker, Chief Executive Officer of Rabo Partnerships notes, “This investment seamlessly supports our strategy of promoting data-driven finance solutions through local institutions and service providers. We aim to leverage our ecosystem approach through value creation and impact, and we are looking forward to a fruitful long-term partnership with Kaleidofin”.