Kaleidofin is a digital financial service platform that utilizes machine learning and a proprietary credit assessment model to provide tailored savings, investment, credit, and insurance solutions for underbanked and unbanked customers. By integrating with financial institutions, Kaleidofin enhances access to finance and supports responsible lending practices, addressing the challenges of financial inclusion in underserved markets.
Funding
$37.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional credit assessment models often fail to accurately evaluate individuals in the informal sector due to limited credit history and reliance on non-traditional data sources. This lack of accurate assessment hinders financial institutions from extending services to underbanked and unbanked populations. Consequently, many individuals are excluded from accessing essential financial products like loans, savings, and insurance.
Solution
Kaleidofin provides a platform that enables financial institutions to offer tailored financial solutions to underbanked and unbanked customers. The platform leverages machine learning and a proprietary credit assessment model, "ki score," built on over 30 million data points, to evaluate creditworthiness in the informal sector. Kaleidofin's solutions include lending-as-a-service, co-lending, direct assignment, securitization, and BC lending at scale. The platform also offers "ki cash services," an application designed to guide first-time smartphone users to digital adoption, providing assisted digital access to savings, credit, and insurance.
Target Audience
Kaleidofin primarily targets financial institutions such as banks, MFIs, and NBFCs that aim to expand their reach to underbanked and unbanked populations, as well as the end consumers in the informal sector seeking access to financial services.
Features
- **ki score:** AI/ML-based credit decisioning data model tailored for the informal sector.
- **ki view:** Holistic risk management solution offering portfolio management, customer journey tracking, and impact metrics.
- **Lending-as-a-service:** Enables banks and NBFCs to integrate with MFIs, MSMEs, and corporations to offer lending solutions.
- **Omni-channel customer connect:** Interactive banking experience across text, voice, and video channels.
- **ki cash services:** User-friendly application for first-time smartphone users, providing access to financial services.
- **Assisted onboarding:** Reaching customers at their doorstep to ensure accessibility.
- **ISO certification:** Implements security techniques to ensure data safety.