Kaleidofin Capital Pvt Ltd, the non-banking financial services unit of Kaleidofin Pvt Ltd, has raised $5 million (around Rs 47.8 crore) in debt from WLB Asset VIIB Pte Ltd.
WLB Asset VIIB is a special purpose vehicle established by Singapore-based Impact Investment Exchange (IIX). The non-bank lender will deploy these funds across the clean energy and financial inclusion sectors, according to a press note.
“This four-year debenture marks Kaleidofin Capital’s entry into a new pool of international impact capital and reinforces its commitment to responsible and inclusive finance,” the note said.
Kaleidofin Capital is raising the money by issuing non-convertible debentures at a coupon rate of 12.6% payable quarterly, according to a separate disclosure.
Meanwhile, the investment in Kaleidofin Capital forms part of IIX's broader Women's Livelihood Bond 7 (WLB7). The IIX closed the second tranche of the bond recently, bringing total issuance across both tranches to $92 million.
“The Women's Livelihood Bond Series has demonstrated across multiple issuances that capital can be deployed at scale with verified gender-positive outcomes and competitive financial returns,” Robert Kraybill, Chief Investment Officer, IIX.
Kaleidofin Capital, launched its operations in 2023, and has adopted a partner-driven lending model through partnerships with over 15 originator partners in India. It offers agricultural and allied loans, loans to women entrepreneurs and micro-entrepreneurs, and small business loans. As of March 31, the non-bank lender’s assets under management stood at Rs 313.6 crore.
Kaleidofin Pvt Ltd, the parent company of Kaleidofin Capital, owns and operates a technology-based credit underwriting model driven by the Kaleidofin Inclusive (ki) score and Ki view. The company is backed by various investors like Rabo Partnerships, the Michael and Susan Dell Foundation, Flourish Ventures, Oikocredit and the IDH Farmfit Fund.
