Industry & Commerce - Sun-AP Ecopower partners US-based OutBack Power Technologies
Industry & Commerce - NASSCOM Diversity and Inclusion Lead, Asho ...
Others - On the occasion of Kannada Rajyotsava Gopala ...
Kinara Capital, India’s pioneering lender for Micro, Small and Medium Enterprises (MSMEs) who do not have property collateral to pledge, has raised INR 32 crore (~ USD 5 million) in non convertible debentures from ResponsAbility Investments AG-an asset manager that specializes in investment solutions to supply debt and equity financing predominantly to non-listed firms in emerging and developing economies.
Commenting on the deal, Kinara’s Promoter & CEO Hardika Shah shared, "At Kinara Capital, we are proud of our efforts of providing tailored financial proucts to micro and small businesses in India for their growing business needs. With responsibility, we share a commong vision of financial inclusion and are pleased to have them as our partner as we continue to expand our reach and scope.”
Speaking on behalf of responsAbility, Senior Investment Officer Jaskirat Chadha said, “responsAbility-managed funds have been providing funding for financial institutions targeting micro, small and medium-sized enterprises for the past 15 years. We are pleased to partner with Kinara Capital, a successful player in the inclusive finance area that actively contributes to driving economic growth as well as increasing the standard of living of large sections of the population.”
Kinara Capital, is a registered trademark of Visage Holdings and Finance Private Ltd (NBFC), has pioneered lending practices by innovating a financially inclusive solution to provide loans to entrepreneurs of micro-small-medium enterprises (MSMEs) without the need for property collateral. As on June 2018, Kinara has serviced 15,000-plus customers in 6 states and manages a portfolio of approximately 450 crores. The company is backed by marquee investors Gaja Capital, GAWA Capital, Patamar Capital, and Michael & Susan Dell Foundation.