Kaleidofin

Company mission: "Our mission is to provide fair and transparent financial solutions, targeting millions of customers and enterprises in India without convenient access to formal financial services."

ki score is described as "a credit health and financial health score that helps a lender make credit decisions" built on an "AI/ML (artificial intelligence/machine learning)-based model."

Stated positioning on the company website: "Democratizing finance through responsible fintech, empowering every customer."

Kaleidofin ensures "accessibility through assisted onboarding, reaching customers at their doorstep."

User base of over 3 million, of which 97 percent are women, per co-founder Sucharita Mukherjee in Forbes India.

A million of the 3 million+ user base are small-time entrepreneurs.

IDH Farmfit's investment targets smallholder farmers, described by Sucharita Mukherjee as 'an important part of the economy, yet they remain vastly underserved by formal financial services.'

Kaleidofin enables 'Banks, NBFCs and other Financial Institutions to seamlessly integrate with MFIs, MSMEs, NBFCs, and Corporates to offer lending solutions.'

"The company operates through 50 channel partners spread across 17 states."

"Kaleidofin started as a platform to connect large financial services providers" and "partners with microfinance institutions and cooperative banks, all done through a wide network of agents."

The platform provides "seamless and interactive banking experience across various channels, including text, voice, video."

Kaleidofin "has created a localised and accessible footprint across 230 districts and 14 states in semi-urban and rural India."

ki score, "derived from a supervised AI/ML model, enhances decision-making by integrating ensemble data modelling and different data sources." In seven years, "the model sanctioned loans exceeding ₹38,000 crore to over 7.2 million customers."

Ki Credit is "a middleware that helps largely with the onboarding process and in conducting fraud checks for lenders."

Ki View is "a risk management dashboard" used "post-disbursement for monitoring and managing risks."

Ki Cash is "the company's customer engagement platform, and a fully digital savings bank."

Kaleidofin Capital Private Limited (KCPL), the NBFC subsidiary, offers "agricultural and allied loans, women entrepreneur loans, micro-entrepreneur loans (MEL), and small business loans" through a "branchless, partner driven lending model."

"AI/ML based credit decisioning data model built on >30M+ data points," owned by parent Kaleidofin Private Limited and used by its NBFC arm.

"ki score and ki view leverage a database of 35 million customers to deliver credit assessments."

CEO Sucharita Mukherjee has "over 23 years' experience, having led origination and structuring efforts in credit derivatives at Morgan Stanley in London" and "previously served as the founding CEO of Northern Arc Capital"; Puneet Gupta "co-founded the IFMR group (now Northern Arc Capital and Dvara Group)."

Kaleidofin has "60+ Partnerships in india" with "Banks, MFIs, NBFCs, and corporations" as platform partners for lending-as-a-service.

Kaleidofin Capital (KCPL) "has adopted a branchless, partner driven lending model through originator partners with ~15 partners."

Institutional backers include Rabo Partnerships, the Michael and Susan Dell Foundation, Oikocredit, Omidyar Network India, Flourish Ventures, Blume Ventures, IDH Farmfit and Triodos Investment Management.

"When any loan goes through the platform, we make a platform fee, which is a percentage of either disbursements or AUM."

"We have lending income and the other is the fee for other IP products on a platform like Ki Score."

Revenue also comes from "the fee for other IP products on a platform like Ki Score."

CareEdge Ratings noted KCPL's PAT reflected "higher cost of operations, employee costs and credit costs," and flagged group-level "weak profitability led by higher operating expenses."