Hardika Shah's Kinara Capital launches 15 additional Branches; now has 125 Branches in India

By: WE Staff | Friday, 16 December 2022

Kinara Capital, a rapidly expanding fintech driving MSME financial inclusion, announced the opening of an additional 15 new branches, bringing its total field presence to 125 branches serving MSMEs in more than 100 cities throughout the states of Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Tamil Nadu, Telangana, and UT Puducherry.

The company's customer service will be improved in Tier 2 metropolitan regions thanks to the new branches. Within the next three years, Kinara Capital hopes to assist 200,000 MSMEs. By adding 800 new workers this year, the company increased its staff by 45%, and it intends to hire 2,000 people by FY25.

Serving the MSME sector for more than ten years, Kinara Capital is entirely committed to making it easier for small business owners to acquire loans.

Doorstep customer service in local languages is essential to teaching many small business owners about how business loans function and assisting them with the application process because 90% of Kinara's customers are new to business credit.

Chief Operating Officer (COO) of Kinara Capital, Thirunavukkarasu R (Thiru R), stated: "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."

More MSMEs in the manufacturing, trading, and service sectors can now receive doorstep customer support thanks to Kinara's wide field presence of 125 branches and 3,420 pincodes. Eluru, Ponnur, Tuni in Andhra Pradesh; Godhra, Mehsana, Varachha in Gujarat; Mudhol and Vijayanagar in Karnataka; Mayiladuthurai, Ranipet, and Tenkasi in Tamil Nadu; Boisar, Mira-Bhayandar, Panvel, and Shahapur-Vasind in Mumbai areas in Maharashtra. These 15 new branches will offer Kinara's services.

Kinara's omnichannel customer service includes an internal, multilingual call centre, as well as customer support through WhatsApp, chat, email, and the customer app, in addition to expanding its field presence.

This guarantees that every customer interaction, from initial inquiries through sales to continuous customer care up until the loan's closing, occurs with a Kinara employee.

Within 24 hours, personal customer assistance is available, and the myKinara App offers a totally digital process for quick and flexible distribution of collateral-free business loans. MSMEs can apply for working capital, asset purchase, and bill discounting business loans from Kinara Capital ranging from Rs. 1 lakh to Rs. 30 lakhs. HerVikas' initiative offers women company owners an automatic discount on all business loans.

A rapidly expanding fintech startup, Kinara Capital is credited with upending India's small business financing sector. By providing more than 80,500 collateral-free business loans to date, Kinara Capital has accelerated the financial inclusion of India's small business owners (MSME sector).

Kinara Capital has elevated the standard for gender inclusiveness in financial services, especially with Rs 300 crores pledged toward its HerVikas discounted business loans for women entrepreneurs. Kinara Capital leads with a management team that is predominately made up of women.

The company is a debt-listed entity on the Bombay Stock Exchange and is recognised by the Reserve Bank of India (RBI) as a Systemically Important NBFC (BSE). Kinara Capital, which was established in 2011 and has its headquarters in Bangalore, currently has 125 branches that serve MSMEs in more than 100 Indian cities and employs more than 1,600 people. 

Future predictions and other forward-looking statements about events or financial performance could be found in this press release. These statements, which are based on assumptions and are subject to risk and uncertainty, are just projections that reflect our current beliefs and expectations regarding future events. They may also change at any time. It is not advisable to place undue reliance on these forward-looking statements given the business risks and uncertainties. Actual outcomes or events could be significantly different from those predicted in forecasts or forward-looking statements.