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Hyderabad, June 6
Kinara Capital aims to disburse about Rs 800 crore in loans to Micro, Small and Medium Enterprises (MSMEs) in the current financial year in Telangana and Andhra Pradesh, according to Thirunavukkarasu R, Chief Operating Officer.
The Bengaluru based fintech start-up has disbursed Rs 1,200 crore in advances so far in Andhra Pradesh and Telangana, at an interest rate ranging from 22 to 26 per cent per annum, he said at a press conference here on Tuesday.
Also read: Kinara Capital allocates additional ₹400 crore for HerVikas program
The company recorded 190 per cent year-on-year growth in Assets Under Management in Andhra Pradesh and Telangana in 2022-23. Its financial services had generated 16,000 new jobs in the two Telugu states, according to Thirunavukkarasu.
Also read: Funding. Fintech company Kinara Capital raises ₹200 cr in fresh equity
The company has 27 branches with 300 field employees in the two states, and plans to increase its workforce by hiring about 150 people soon.
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