Kinara Capital, a leading fintech company, celebrates the fifth anniversary of its ambitious HerVikas program by unveiling a new Rs 500 crore fund.
This strategic move aims to accelerate growth of women-owned MSME startups and foster their growth in the competitive business landscape.
The woman startup funding program empowers women entrepreneurs across India. With the infusion of fresh capital, Kinara Capital is doubling down on its commitment to support women-led businesses. Let’s delve into the key benefits and market potential of this exciting initiative.
Catalytic Capital for Early Access to Formal Credit
The cornerstone of the new benefits lies in providing catalytic capital to women-owned MSME startups. By facilitating early access to formal credit, HerVikas empowers entrepreneurs to fuel their business aspirations. Qualifying women will enjoy:
- One Percent Interest Rate Discount: HerVikas automatically grants a one percent interest rate reduction on collateral-free business loans.
- 60-Day Repayment Holiday: Entrepreneurs can breathe easy with a 60-day grace period for loan repayments.
- 50% Reduction in Loan Processing Fees: Lower costs mean more resources for business growth.
AI-Powered Decisioning with myKinara App
The Kinara funding program leverages cutting-edge technology to ensure bias-free credit decisioning. The myKinara App, powered by artificial intelligence and machine learning, streamlines loan approvals. Women entrepreneurs can now navigate the credit landscape with confidence, knowing that their applications are evaluated fairly.
Kinara Capital Unlocks Opportunities for Women Entrepreneurs through HerVikas
In a strategic move, HerVikas extends its reach to newly registered MSME startups in the manufacturing and trading sectors. These budding enterprises can qualify for the program within one month of business registration. By reducing barriers to entry, Kinara Capital aims to ignite a wave of entrepreneurial success.
Founder’s Vision: Empowering Women to Thrive
Hardika Shah, Founder & CEO of Kinara Capital, expressed her enthusiasm for the program’s evolution: “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 program, we are proudly committing our largest allocation to date of Rs 500 crore in FY25 and introducing new benefits aimed at empowering more women-owned MSME startups to thrive.”
Impact and Growth
Since its inception, the women-oriented funding program has disbursed over Rs 700 crore in collateral-free business loans. With the additional allocation of Rs 500 crore, the disbursements are projected to exceed Rs 1,200 crore by FY25. The program has touched the lives of 5,800 women MSME entrepreneurs across 100 plus cities in India.
As Kinara Capital celebrates five years of empowering women entrepreneurs, the future looks promising. The Rs 500 crore funding highlights its commitment to gender equality and economic progress. With HerVikas, the glass ceiling shatters, and a new era of women-led businesses emerges.
