Bill & Melinda Gates Foundation invests $5M in Indian startup Kaleidofin
An Indian fintech startup has secured $5 million in funding from the Bill and Melinda Gates Foundation. Among other things, Kaleidofin will use the money to further strengthen its product lines. Chennai-based fintech business, Kaleidofin, has raised $5 million in the second round of Series B fundraising, increasing their total capital to $23 million. According to media sources, the fresh investment was made by the Bill & Melinda Gates Foundation's Seattle-based Strategic Investment Fund, together with other angel investors and existing investors. Interestingly, numerous media outlets suggest that Bill and Melinda Gates are not the only notable people who have invested in this firm. The startup raised $10 million in the first round of its series B fundraising in January, led by the Michael & Susan Dell Foundation, the head honchos of Dell Technologies. Kaleidofin was launched in 2017 by Sucharita Mukherjee and Puneet Gupta with the goal of providing easy...