Kinara Capital raises Rs 100 cr from Gaja Capital, others

A non-banking financial company, Kinara Capital Thursday raised Rs 100 crore from private equity and impact investors- Gaja Capital, Michael & Susan Dell Foundation, Patamar Capital and GAWA Capital. The funds raised in the current round would be used for the company's growth in new and existing markets and increase its investment in technology, the company said in a statement.

"Following the vote of confidence from our investors, we aim to reach new milestones by investing in our people and technology," its founder and CEO Hardika Shah said. The lender to small businesses provides fast and flexible loans in the range of Rs 2 lakh to Rs 25 lakh without taking property collateral from small business entrepreneurs.

Kinara Capital focused on MSMEs in the manufacturing sector has disbursed over Rs 1,160 crore across over 33,785 loans to small businesses. Headquartered in Bengaluru, the company has 90 branches across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Telangana and Tamil Nadu.

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