Ne region English news | Ne region, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Kinara Capital, a social impact fintech driving financial inclusion of India's small business entrepreneurs, today announced securing EUR 8 million (~INR 70 crores) from Invest in Visions GmbH (IIV), pioneers of microfinance investments in Germany.Agents for Impact, a sustainability connector of investors and social impact organizations, arranged this transaction for Invest in Visions and managed all commercial and legal aspects of this transaction for Invest in Visions from start to finish. Classified as an ESG Impact Fund by the European Union, Kinara Capital will further IIV's Microfinance fund's mandate of enabling credit access to small businesses.Kinara has accelerated early access to credit with data-based credit decisioning and fully digital processes that facilitate a 24-hour turnaround time from loan application to loan disbursements. Fast access to capital without property collateral addresses the primary obstacles faced by the micro-small-medium enterprise (MSME) sector in India. This fund will unlock access for hundreds of MSMEs to get loans in the range of Rs. 1-30 lakhs. In addition, Kinara's HerVikas program for women entrepreneurs is addressing systemic inequalities and providing an upfront discount on collateral-free business loans.YouTube Link: .Invest in Visions GmbH established the first microfinance fund in Germany and since has expanded to specializing in SME financing, renewables and education. IIV seeks to invest in ethical organizations that can demonstrate sustainable profitability and social impact. AFI plays the crucial role of advising IIV on loan transactions wherein it, inter-alia, conducts verification and plausibility check of investee organizations based on the German Federal Financial Supervisory Authority's recommendation to assess sustainability risk and its ability to deliver measurable social impact."Kinara Capital and Invest in Visions GmbH started our journeys a decade ago and our paths have finally crossed. We are joining hands to enable financial inclusion of even more MSMEs in India. Dedicated support from Agents for Impact to execute this transaction underscores our transparent processes and our focus on achieving measurable social impact. We are honored to partner with both IIV and AFI whose goals align extremely well with ours," said Hardika Shah, Founder & CEO, Kinara Capital."IIV is pleased to partner with innovative leader Kinara Capital that is creating possibilities for the underserved small businesses in India. We recognized the immediate impact that access to credit can have on the local economy with quick income generation, so micro and small business financing in developing nations has always been our top priority. AFI eased the transaction for us by conducting a full assessment so that we confidently entered into the deal knowing that our Microfinance fund's directive will be met in India," said Edda Schroder, Founder and Managing Director, Invest in Visions GmbH (IIV)."We are thrilled to have supported both IIV and Kinara Capital in their aligned mission of financial inclusion. Our goal is to perfectly match the needs and requirements of ESG investors and social impact organizations. In this case, we conducted a due diligence of processes and practices, and mapped social impact performance with consideration for the ground reality in India. Our efforts bring peace of mind to both parties so that they can focus on what they do best to service micro & small business entrepreneurs," said, Dr. Andrij Fetsun, CEO of Agents for Impact (AFI).Partnership between Kinara Capital, Invest in Visions GmbH (IIV), and Agents for Impact (AFI) to advance financial inclusion will meet multiple United Nations Sustainable Development Goals (UN SDGs), with primary UN SDGs 5, 8, 10 and secondary UN SDGs 1, 2, 3, 4, 9.Founded in 2006 by Edda Schroder, Invest in Visions GmbH specializes in financing sustainable investments. Currently, more than 921 million euros are managed in the core areas of microfinance and Impact Investing (as of September 30, 2021). Invest in Visions provides institutional and private investors with access to investments that offer social returns in addition to financial returns, and which have a positive impact on society and the environment.Founded in 2018, Agents for Impact is a Germany-based Impact investing company. AFI offers premium impact investment solutions, sustainability consulting and impact measurement services tailor-made for clients in the sustainable finance industry. Agents of AFI are spread across Africa, India, Southeast Asia, Central Asia and Europe each skilled with in-depth technical expertise and in close geographical proximity to our key partners and target countries to ensure enhanced support. AFI pursues positive impact, contributing to the achievement of SDGs as the common reference framework for sustainable development.Find out more here! .Kinara Capital is a fast-growing fintech propelling financial inclusion of small business entrepreneurs in India. Kinara has disbursed more than INR 2400 crores in collateral-free business loans to MSMEs in India. The cumulative impact of more than 65,000 loans to date has led to an incremental income generation of $100 million for the entrepreneurs and supported over 250,000 jobs in local economies. Globally recognized for its innovative approach, Kinara Capital has earned the 'Bank of the Year-Asia' award from IFC, is ranked among the 'Top 100 High-Growth Companies in Asia-Pacific' by the Financial Times and named among 'India's Growth Champions' by the Economic Times. Kinara boasts a women-majority management team and is qualified as a 'Systemically Important NBFC' by the Reserve Bank of India. Headquartered in Bangalore, Kinara Capital has 110 branches across 90+ cities in India. Kinara Capital is a debt listed entity on the Bombay Stock Exchange (BSE). Click here for more information and follow us on Twitter @KinaraCapitalThis press release may contain projections and other forward-looking statements regarding future events or future financial performance. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time.Given business risks and uncertainties, undue reliance on these forward-looking statements should not be placed. Actual events or results may differ materially from those contained in the projections or forward-looking statements.This story is provided by NewsVoir.will not be responsible in any way for the content of this article. (ANI/NewsVoir)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Ne RegionFOLLOW

Ne region, Latest News

The leaders of the Group of 20 nations (G-20) took part in the summit's third session addressing the topic of Sustainable Development at the Convention Centre here on Sunday. ...

The United States has reached a deal with the European Union (EU) to resolve a three-year dispute over tariffs on steel and aluminium imported from the bloc, US officials said on Saturday. ...

Washington, Oct 31 The US has reached a deal with the European Union (EU) to resolve a three-year ... ...

Amid Beijing's growing military threat to democratic Taiwan, Foreign Minister Joseph called on the European Union to strengthen business ties with Taipei. ...

Rome, Oct 30 On the eve of the 16th G20 Summit in Rome, leaders of several multinational organizations ... ...

Taiwanese Foreign Minister Joseph Wu has urged countries in Europe and around the world to "think twice," before becoming too dependent on China economically and politically. ...

Brussels, Oct 30 Eurozone inflation has surged to a record rate this month, reaching the highest level since ... ...

Kinara Capital, a social impact fintech driving financial inclusion of India's small business entrepreneurs, today announced securing EUR 8 million (~INR 70 crores) from Invest in Visions GmbH (IIV), pioneers of microfinance investments in Germany. ...