Indian fintech Kaleidofin raises $2.8 million for services to unbanked



ImpactAlpha, April 12 – About 200 million households in India have no access to formal banking, insurance and investment services. Chennai-based Kaleidofin uses algorithms to tailor financial services to the needs of the unbanked. Investors includes Omidyar Network, Blume Ventures and individual investors.

  • Strategic partners… SEWA bank, a cooperative bank that services informal women workers, has deployed the Kaleidofin app in its branches.
  • Omidyar Network on a roll in India… Recent investments include affordable private schools financier Varthana, financial inclusion firm ZineOne, self-publishing platform Pratilipi, parent social network Healofy and smartphone operating system IndusOS.

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