Kinara Capital Adds 15 New Branches; Reaches 125 Branches Across 100 plus Cities in India to Serve MSME Sector

Bangalore, Karnataka, India NewsVoir Digital Process combined with Doorstep Customer Service Simplifies Access to Credit for MSMEs Aims to reach 2,00,000 MSMEs in the next 3 years On-boarded 800 employees and plans to hire 2,000 by FY25 Kinara Capital, a fast-growing fintech driving MSME financial inclusion, today announced the launch of additional 15 new branches, that brings the companys total field presence to 125 branches serving MSMEs in 100 cities across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Tamil Nadu, Telangana and UT Puducherry.

Bangalore, Karnataka, India (NewsVoir) • ​Digital Process combined with Doorstep Customer Service Simplifies Access to Credit for MSMEs • Aims to reach 2,00,000 MSMEs in the next 3 years • On-boarded 800 employees and plans to hire 2,000 by FY25 Kinara Capital, a fast-growing fintech driving MSME financial inclusion, today announced the launch of additional 15 new branches, that brings the company’s total field presence to 125 branches serving MSMEs in 100+ cities across Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Tamil Nadu, Telangana and UT Puducherry. The new branches will expand the company’s customer service in Tier 2 urban areas. Kinara Capital aims to support 2,00,000 MSMEs in the next 3 years. The company on-boarded 800 employees this year, thereby increasing the workforce by 45% and plans to hire 2,000 by FY25. Serving the MSME sector for over a decade, Kinara Capital is wholly dedicated to simplifying access to credit for small business entrepreneurs. With 90% of Kinara’s customers new to business credit, doorstep customer service in vernacular languages is a critical step towards educating many small business entrepreneurs on how business loans work and helping them with the application process. Thirunavukkarasu R (Thiru R), Chief Operating Officer (COO), Kinara Capital, said, “In our mission to drive vast financial inclusion, Kinara Capital has invested heavily in building both tech-enabled processes and operational facilities. We are influencing small business growth with a highly-effective model that combines the best-of-tech with the best-of-people to deliver personalised customer service to small business entrepreneurs. With an existing workforce of 1,000+ field officers, the addition of new branches strengthens our presence in our existing geographies and furthers our reach in the MSME sector.” This extensive field presence with 125 branches expands Kinara’s overall reach in 3,420 pincodes enabling doorstep customer service for even more MSMEs from manufacturing, trading and services sectors. The 15 new branches will provide Kinara’s services in these regions: Mudhol and Vijayanagar in Karnataka; Mayiladuthurai, Ranipet, Tenkasi in Tamil Nadu ; Eluru, Ponnur, Tuni in Andhra Pradesh; Godhra, Mehsana, Varachha in Gujarat; and Boisar, Mira-Bhayandar, Panvel, Shahapur-Vasind in Mumbai areas in Maharashtra. A sneak peak of the branch openings - www.youtube.com/watch?v=DmZ1jzZEncg In addition to broadening its field presence, Kinara’s omnichannel customer service includes in-house multilingual call centre, and customer support available via WhatsApp, chat, email, and customer app. This ensures that every customer touchpoint is with a Kinara employee starting from inquiry to sales to ongoing customer support until the closure of the loan. Access to personal customer service and a fully digital process with myKinara App provides fast and flexible disbursement of collateral-free business loans within 24-hours. MSMEs can avail of Rs. 1 lakh to Rs. 30 lakhs of Working Capital, Asset Purchase, and Bill Discounting business loans from Kinara Capital. Women entrepreneurs qualify for an automatic discount with HerVikas program on all business loans. About Kinara Capital Kinara Capital is a fast-growing fintech company and is globally recognized for disrupting the small business lending model in India. Kinara Capital has disbursed nearly INR 4,000 crores to date across 80,500+ collateral-free business loans thereby propelling financial inclusion of India’s small business entrepreneurs (MSME sector). Leading with a women-majority management team, Kinara Capital has raised the bar for gender inclusivity in financial services, especially with INR 300 crores pledged towards its HerVikas discounted business loans for women entrepreneurs. The company is qualified as a Systemically Important NBFC by the Reserve Bank of India (RBI) and is a debt-listed entity on the Bombay Stock Exchange (BSE). Founded in 2011, and headquartered in Bangalore, Kinara Capital today has 125 branches serving MSMEs across 100+ cities in India with a workforce of 1,600+ employees. Visit kinaracapital.com for more information and follow us on Twitter @KinaraCapital.

This 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.

 

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