Omidyar Network Led $2.8 Mn Seed Funding Round In Fintech Startup Kaleidofin

Monday, April 9, 2018

By Meha Agarwal

Chennai-based fintech startup Kaleidofin has raised over $2.8 Mn in seed funding from Omidyar Network. Blume Ventures and individual investors – including Israeli serial entrepreneur and inventor, Professor Shlomo Ben-Haim – have also participated in the round. This is Professor Ben-Haim’s first investment in India.

With the raised funding, the startup aims to accelerate its customer acquisition pan-India, expand the company’s network of strategic partners, and enable deep investments in technology and analytics. Also, with this round Rajiv C Lochan, CEO and managing director of the Hindu Group, has joined Kaleidofin’s board as an independent director.

It is estimated that more than 200 Mn households in India have no access to formal savings, insurance and investments. Launched in February 2018, Kaleidofin aims to tap this vast segment of informal sector customers and offers tailored financial solutions using intelligent algorithms to suit their investment needs.

Photo courtesy of Simone McCourtie.

Source: Inc42 (link opens in a new window)

fintech, mobile finance, startups, venture capital