Fintech lending platform Kaleidofin has raised $5.3 million (approximately Rs 44.5 crore) in a new funding round led by the IDH Farmfit Fund.

The Chennai-based startup had earlier raised $13.8 million in September 2024. With backing from Rabo Partnerships, Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India, and Flourish Ventures, Kaleidofin has secured a total of $42 million in funding to date.

The funding will be used to expand its lending portfolio, as well as enhance its credit scoring, middleware, and risk services through new partnerships.

Founded in 2017 by Sucharita Mukherjee and Puneet Gupta, Kaleidofin offers financial solutions for underbanked individuals and businesses. The platform integrates investment, credit, and insurance services, customized to meet the unique needs of its customers. It follows phygital (digital + physical)  to deliver its services.

Kaleidofin aims to reach 600 million underbanked Indians by offering tailored financial products. The company partners with banks, microfinance institutions (MFIs), and NGOs to ensure reliable last-mile connectivity.