Kaabil Finance, a Jaipur-based provider of loans for Micro, Small, and Medium Enterprises (MSMEs), has secured $3 million in pre-Series A funding, with 2point2 Capital taking the lead in the investment. This round of funding also saw the participation of a consortium of wealthy investors. Kaabil Finance has revealed that the raised capital will be used to bolster its MSME loan offerings and improve its credit assessment, risk management, collections, and technology divisions.

Established in 2018 by Ramavtar Meena, Kaabil Finance specializes in providing nano and micro-loans to small and medium-sized enterprises, offering loan amounts of up to Rs 3 lakh. Their ambitious objective is to achieve assets under management worth Rs 1,000 crore within 1,000 days.

Ramavtar Meena, the Founder and CEO of Kaabil Finance, expressed his enthusiasm about the backing received from a group of highly accomplished investors, stating, "We are thrilled by the support from this accomplished group of investors. This investment will enable us to expedite our expansion and continue making a positive impact on our target customer base".