Kinara’s branch network has expanded to 125, and is expected to support 2,00,000 MSMEs in the next 3 years
In its quest to support an increasingly larger number of MSMEs with access to formal credit, Kinara Capital has announced the launch of additional 15 new branches. This 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.
Kinara Capital is dedicated to driving financial inclusion and growth for MSMEs in India. The company has been serving businesses in the sector for over a decade, and is wholly dedicated to simplifying access to credit for small business entrepreneurs. With 90% of Kinara’s customers being 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. The company facilitates this through its extensive branch network and highly trained and customer-friendly field team.
Thiru R, COO of Kinara Capital, commented on this new tranche of growth for the company, saying, “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 personalized 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 addition of 15 new branches extends Kinara’s field presence to a total of 125 branches across locations. This has expanded the company’s overall reach to 3,420 pincodes enabling doorstep customer service for thousands 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.
Kinara’s presence in 6 states and an union territory in the country is focused on regions with a high density of MSME businesses. These additional branches will help the company keep us with demand and significantly expand its customer base going forward.
Doorstep customer service facilitated by its expanding branch network is only one aspect of Kinara’s customer service efforts. In addition to broadening its field presence, the company’s omnichannel customer service includes in-house multilingual call center, 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.
Kinara provides MSMEs with access to personal customer service and a fully digital process through the multilingual myKinara app. It offers fast and flexible disbursement of collateral-free business loans within 24-hours through an end-to-end digital process. MSMEs can avail of Rs. 1 lakh to Rs. 30 lakhs of Working Capital, Asset Purchase, and Bill Discounting business loans from Kinara through a variety of channels, including downloading the app and approaching a representative at one of 125 branches. Women entrepreneurs qualify for an automatic discount with HerVikas program on all business loans.
Over the 11 years it has been in operation, Kinara Capital has built a strong presence and credible name for itself as a fast-growing, socially responsible fintech in the last-mile lending segment. As Kinara grows, it fortifies its efforts to reach out to an ever-expanding base of MSME customers who need financing to bolster their business growth and facilitate financial inclusion. This latest chapter in the company’s growth marks a huge stride in expanding its physical presence, as well its reach in terms of helping thousands more MSME entrepreneurs in the future.