Kaleidofin has received an equity infusion of $13.8 million led by Rabo Partnerships, while recruitment platform Vahan has raised $10 million in its Series B funding round.
Rabo Partnerships leads $13.8m funding in Kaleidofin
Chennai-based fintech firm Kaleidofin on Wednesday announced that it has received an equity infusion of $13.8 million led by Rabo Partnerships B.V.
Rabo Partnerships, headquartered in Netherlands, alone infused $11 million in the round. Existing investors Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India, and Flourish also participated, the company said in a statement.
With the latest infusion, Kaleidofin’s total funding since inception stands at $37 million.
The investment will support Kaleidofin’s mission and help scale its lending portfolio and expand credit scoring, middleware and risk services through selected partnerships, the statement added.
“We believe that kaleidofin’s understanding of the Indian rural economy, where 61% of individuals are directly or indirectly dependent on agriculture, and Rabo Partnerships’s focus on the agri sector will further strengthen our capabilities in serving the customer, underwriting the customer and in offering customers and small businesses more suitable loans in the agri segment,” said Sucharita Mukherjee, co-founder & CEO, Kaleidofin.
Established in 2017, Kaleidofin claims to have facilitated loan disbursal of cumulatively over $2.7 billion for over 4.7 million customers and small enterprises working in the informal economy, since 2020.
Vahan raises $10m led by Khosla Ventures
Vahan, a recruitment platform for blue-collar workers, has raised $10 million in its Series B funding round led by existing investor Khosla Ventures.
The round also saw participation from Y Combinator, US-based VC firm Gaingels, and Paytm founder Vijay Shekhar Sharma, among others.
The fresh funds will be used to develop artificial intelligence (AI) recruitment technology that supports eight major Indian languages, Vahan said in a press release. Currently, Vahan’s AI recruiter conducts interviews in English and Hindi.
The company also plans to expand into industries such as manufacturing and retail.
Since its launch in 2016, Vahan claims to have placed over 500,000 workers in more than 480 cities with leading companies such as Zomato, Swiggy, Flipkart, Zepto, Blinkit, Amazon, Rapido, and Uber.
