Kaleidofin, a fintech neobanking platform has raised $5.3 million in an ongoing funding round from the IDH Farmfit Fund. This infusion brings the total raised in its latest funding round to $19 million.
Earlier in the round, Kaleidofin raised $13.8 million led by Rabo Partnerships, with participation from existing investors – Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Flourish Ventures.
With this latest investment, the company has raised a total of $42 million in equity funding since its inception.
The fresh funds raised will be used to scale its lending portfolio and expand credit scoring, middleware and risk services through selected partnerships.
Kaleidofin and IDH Farmfit Fund will collaborate to drive financial inclusion by expanding access to financial services for smallholder farmers, including those in dairy, agri-allied sectors, agri workers, and agribusinesses. A key focus of this partnership will be the development of a specialized ki score, a credit health assessment product designed to cater to the unique needs of the agricultural sector. This initiative will transform agri-lending by moving beyond generic term loans to tailored financial products for animal husbandry, farm equipment, automation, sustainable agriculture, and climate-friendly farming practices. By integrating with financial institutions via the ki credit platform, this initiative will help scale high-quality specialised credit solutions, ultimately strengthening the financial ecosystem.
Sucharita Mukherjee, Co-founder & CEO, kaleidofin said, “Smallholder farmers form an important part of the economy, yet they remain vastly underserved by formal financial services. Through our collaboration with IDH Farmfit Fund, we aim to change this by creating specialized financial products that cater to the unique needs of farmers. ki score agri will help lenders deepen their agri portfolios while improving risk management, ensuring that capital flows efficiently to those who need it most.”
Som Toohey, Investment Director, IDH Investment Management said, “Enhanced underwriting and tailoring of smallholder farmer loans, coupled with more efficient origination and distribution, can catalyse the flow of appropriate credit to this underserved segment across India and other markets. Improving the quality of financial inclusion, encompassing client protection, is critical to increasing both income and climate resilience over time. The IDH Farmfit Fund was created to enable smallholder finance to become an investable asset class. Our partnership with kaleidofin is a significant step toward realising that vision.”
Melinda Gróf, Investment Manager, IDH Investment Management, said, “Kaleidofin’s technology provides deep insight into borrower risk, enabling more precise credit decisions and wider access to finance for underserved agricultural communities. We’re excited to support this innovation, which has the potential to transform agri-lending and strengthen rural value chains.”
Established in 2017 and led by Sucharita Mukherjee and Puneet Gupta, Kaleidofin has built a digital ecosystem to accelerate access to formal finance for small and growing businesses in the informal sector. The main customers of the company are small & marginal farmers, women-led enterprises and nano enterprises.
Kaleidofin provides financial solutions for low-income customers/businesses working in the informal economy via the Kaleidofin platform. In India, the platform has unlocked debt capital of cumulatively over $ 4.5 billion for over 7 million customers and small enterprises working in the informal economy, since 2020. The main customers of the company are small and marginal farmers, women-led enterprises and nano enterprises.
