Skip to content Skip to sidebar Skip to footer

Omidyar backed Kaleidofin to Present business model on financial inclusion at UN

Kaleidofin Private Limited, a omidyar network funded neo bank start-up has been selected to showcase its innovation model that addresses SDGs through digital financing, at an event held in conjunction with the United Nations General Assembly. The event is scheduled for 27th September 2019 and will have an audience featuring global leaders, visionary speakers and industry leaders.

Kaleidofin’s co-founder Sucharita Mukherjee

Earlier this year, UNCDF FinLab ( issued a public call for applications to invite companies to apply for the opportunity to present at the event. Kaleidofin is one of the three firms selected from India in the Digital Finance for Sustainable Development Goals Challenge to present their innovative approach that addresses the SDGs through digital financing.

“There exists ample opportunities in India to provide innovative solutions that embrace the digital revolution to improve the financial health of low- and moderate-income earners. We are pleased to support these efforts through UNCDF FinLab and excited to have Indian companies represented on a global platform. Kaleidofin, by offering intuitive and tailored financial services to under-served customers, sets an example with their contribution towards the achievement of the UN Sustainable Development Goals 1, 4, 8 and 10.” – April Khor, UNCDF Digital Innovation Specialist

Kaleidofin, established in 2017 by Sucharita Mukherjee and Puneet Gupta, aims to address the financial service needs of the 600 million underbanked population of India. Its high-end technology platform provides a seamless combination of saving, investment, credit and insurance to propel customers towards their saving goals. It ensures that the process, through the solution lifecycle, is intuitive and relatively free of fine prints.

Sucharita Mukherjee, Co-Founder, Kaleidofin said, “At Kaleidofin the team is driven by the belief that access to structured and reliable financial services has long-term positive impact on the lives of people. Our financial solutions are designed for customers with significant income variation and lack of familiarity with financial products. Our Goal based approach is intuitive and easy to understand. It enables our customers in channelizing their hard- earned money towards their saving goal.”

Kaleidofin largely works with the unorganised sector customers, such as daily farm labourers and small cottage industry shops. Their income is characterised by seasonal fluctuations and susceptible to sudden expense shocks such as medical emergencies or death in the family. Lack of access to suitable financial services makes them further vulnerable to economic degeneration. By providing tailored financial services that helps a customer save towards lifegoals such as education for a child, Kaleidofin is addressing four essential Sustainable Development Goals:  SDG1, No Poverty ; SDG3,Good health and well-being ;SDG4, Quality of education; SDG 8, Decent work and economic growth.

To overcome any technology adoption barrier and provide a last mile ‘trust’ touch point amongst the target audience, Kaleidofin has adopted a B2B2C business model. It has partnerships with MFI’s, NGOs and other Banks as distribution channels. As of August 2019, Kaleidofin had presence in 10 states with 28 network partners. It currently has approximately 32,000 active customers who are saving towards a cumulative goal of $10 million.

This Pop-up Is Included in the Theme
Best Choice for Creatives
Purchase Now