Kinara Capital Allocates INR 500 Cr Fund for Women Entrepreneurs With the new fund, the Bengaluru-based fintech company hopes to encourage female entrepreneurs even more.
By Entrepreneur Staff •
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On the occasion of the fifth anniversary of its HerVikas program for women entrepreneurs, fintech company Kinara Capital has launched a new fund worth INR 500 crore along with increased benefits.
The program seeks to empower more women-owned MSME startups by giving them early access to formal credit.
Hardika Shah, Founder and CEO, Kinara Capital, said, "Every year, we are inspired by our own HerVikas customers who are collectively breaking the glass ceiling. And, now in the 5th year of this programme, we are proudly committing our largest allocation to date of INR 500 crore in FY25 and introducing new benefits aimed at empowering more women-owned MSME startups to thrive."
HerVikas claims that it will automatically give qualifying female business owners a 60-day payback holiday, a one percent interest rate discount on collateral-free business loans, and a fifty percent decrease in loan processing expenses.
Apart from offering bias-free credit decisioning through the AI/ML-driven myKinara App, HerVikas will also be accessible to recently registered MSME entrepreneurs in the manufacturing and trading domains, should they meet the requirements, within a month of their business registration.
With HerVikas, more women entrepreneurs will be able to pursue their company objectives at reduced prices and without having to worry about rapid loan repayment.
Since its inception, Kinara Capital claims to employ more than 2,000 people and operates 133 branches to support MSMEs in more than 100 Indian cities.
As of now, the firm has given out over INR 700 crore in collateral-free company loans through the HerVikas programme. The extra INR 500 crore will enable HerVikas to disburse more than INR 1,200 crore by FY25.
