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Nuveen leads $50m Series E investment in fintech Kinara

Kinara Capital, India’s fast-growing MSME fintech, has closed a fresh equity round of $50 million led by global investment manager Nuveen.

Triple Jump, a Dutch impact-focused investment manager advising the ASN Microkredietfonds also participated in the round. 

This new equity investment will lead to Kinara’s expansion of products and services to meet the rapidly increasing MSME credit demand in India. Kinara Capital aims to grow by 500% by 2025 with plans to disburse $1 billion of MSME business loans in the next three years.

This round of equity financing for Kinara Capital comes from Nuveen’s Global Impact Fund which focuses on transformative companies’ impact value chains for low-income consumers and from the ASN Microkredietfonds, a listed and regulated Dutch microfinance fund advised by Triple Jump. With this equity round, Kinara Capital gains two new members on its Board of Directors with Nuveen’s Managing Director & Co-Head of Private Equity Impact, Rekha Unnithan, and Nuveen’s Director of Private Equity Impact, Stephen Lee. As shareholders, Nuveen and Triple Jump will support Kinara’s continued growth and the continued development of their best in class ESG and impact management system.

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