Chennai-based financial technology startup, Kaleidofin, has raised Rs 18 crores ($2.8m) in a seed funding round led by impact investing firm Omidyar Network, along with participation from Blume Ventures and Israeli serial entrepreneur and investor Professor Shlomo Ben-Haim, as reported by MoneyControl and The Economic Times.

Rajaram Legal acted as the legal counsel to Omidyar Network, led by partner Priyadarshini Sherchan with associate Hemanth Joseph.

Samvad Partners advised Kaleidofin in the transaction and was led by partner Vineetha MG, senior associate Mandavi Singh, and associates Pooja Shah and Nitya Gupta.

Early-stage venture capital firm Blume Ventures was represented by its in-house team.

Founded in 2017 by former IFMR Holdings executives Puneet Gupta and Sucharita Mukherjee, Kaleidofin provides tailored financial solutions to those in the informal sector, having about 1,300 customers mainly in Chennai, Gujarat and Bihar. With the current fundraising, Kaleidofin plans to expand its customer base pan-India, tie up with more banks and financial institutions and to invest in technology and analytics.

2017-12-31