<article>Financial technology startup Kaleidofin has raised $2.8 million in a funding round led by Silicon Valley-based impact investor<a href="http://dealstreetasia.com/tag/omidyar-network" target="_blank" rel="noopener"> Omidyar Network</a>, founded by Pierre Omidyar, the founder of eBay.</article>

Financial technology startup Kaleidofin has raised $2.8 million in a funding round led by Silicon Valley-based impact investor<a href="http://dealstreetasia.com/tag/omidyar-network" target="_blank" rel="noopener"> Omidyar Network</a>, founded by Pierre Omidyar, the founder of eBay.
Another early-stage investor <a href="http://dealstreetasia.com/tag/blume-ventures" target="_blank" rel="noopener">Blume Ventures</a> also participated in the seed round along with a clutch of individual investors including Israeli serial entrepreneur and inventor Professor Shlomo Ben-Haim.
Rajiv C Lochan, CEO and managing director of the Hindu Group, has also joined Kaleidofin’s board as an independent director.
Kaleidofin was founded in February by Sucharita Mukherjee, former IFMR Holdings CEO, and Puneet Gupta, former IFMR Holdings CFO. It provides tailored financial solutions to the informal sector. For this, it has entered into strategic partnerships with a number of of banks, NBFCs and MFIs that work in the space.
According to an official statement, the Chennai-based firm plans to use this latest funding to expand its network to include partners in other segments, such as agents, banking correspondents, cooperatives, self-help groups, and microfinance institutions to deliver suitable financial solutions to the underserved at a faster scale.
As per estimates, over 200 million households in India do not have access to formal savings, insurance and investments, which is a market that that Kaleidofin is looking to tap into through its curated financial solutions platform.
“Even though India has made strides in improving access to the formal financial system, uptake of services and products by Indian consumers has been slow, because they find that traditional banking or insurance is not relevant to their life’s context”, said Smita Aggarwal, director &#8211; investments at Omidyar Network, who has also joined Kaleidofin’s board.
Recently Omidyar Network also led $2.5 million Series A round in Silicon Valley-based customer engagement platform ZineOne. Also, Bengaluru-based parenting social network platform Healofy has raised $1 million in its seed funding round from Omidyar Network.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/omidyar-network-zineone-94644/" target="_blank" rel="noopener">Omidyar Network leads $2.5m Series A in customer engagement firm ZineOne</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-dealbook-ht-media-backs-sagoon-healofy-gets-raises-1m-purple-quarter-gets-angel-funding-94335/" target="_blank" rel="noopener">Parenting platform Healofy raises $1m from Omidyar Network</a>

Financial technology startup Kaleidofin has $2.8 million in a funding round led by Sillicon Valley-based impact investor Omidyar Network.

India: Fintech startup Kaleidofin raises $2.8m led by Omidyar Network

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India: Fintech startup Kaleidofin raises $2.8m led by Omidyar Network

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