Personalised Financial Solutions for the Underserved

Why we invested in Kaleidofin | By Sanjay Jain

Puneet and Sucharita have been a part of the founding team at IFMR. They have a deep understanding of what it takes to deliver financial services to the poor. This comes from the research and the work that they have done in this sector. I have benefitted from many conversations with them over a long period of time.

When I heard that they were ready to create a new company, around products which designed to serve the poor, I wanted to understand what they were planning to do, and to see how we could support them.

It is known that people with low incomes have a complex financial life. They manage with irregular incomes, variable expenses and limited buffers. The tools available to them are few. Research shows that this stress makes it harder for them to make good decisions. Existing financial institutions do not serve this group well. Nor are they comfortable with technology led self service models. Yet, they have the same aspirations as the financially secure — they want to improve their lives, save for the future, and make their money work for them.

Puneet and Sucharita’s experience has helped them understand the value that intuitive and personalized financial products can bring to this segment. Tailor made products do not exist for most customers, certainly not the under-served. This is where Kaleidofin steps in.

The team has understood the different means and aspirations of the users, and helped design financial solutions for them. Each customer is offered a way to save, grow, borrow, and invest through bundled goals-linked products. Their goals are insured against larger shocks such as health, accident and death. The products are offered through familiar, trusted channels that the user is comfortable with. The result is a financial product suited for the user, which simplifies their decision making, while still giving them control and flexibility.

The technology they have built is quite sophisticated and plays a huge role, but it is behind the scene, and is used to reduce the costs associated with defining and developing these products. This unique high tech-high touch model allows for hyper-personalised products, instantly tailored for the diverse needs and situations of individual clients, while retaining the human touch that allows for more enduring customer relationships and deeper understanding of their lives.

Kaleidofin’s vision is well aligned with the philosophy of the Bharat Inclusion Seed Fund. I am excited that we are able to partner with them on this journey.

About the Author:

Sanjay Jain is the Chief Innovation Officer at CIIE, India’s foremost entrepreneurship centre house at IIM Ahmedabad. He tweets @snjyjn.

About Bharat Inclusion Initiative (BII):

Bharat Inclusion Initiative (BII) is an incubator platform at CIIE that provides entrepreneurs the domain knowledge, training, financial support, mentorship, and market access they need to bring inclusive, for profit-business to life. BII’s core design is to promote technology driven entrepreneurship towards the delivery of affordable services to the Bharat Segment- the poorest 200 million households in India who survive on less than $5 per person a day through programs, fellowships, and funding where possible.

The program focuses on solutions leveraging technology open access, inclusive technology platforms such as the India Stack. It integrates financial inclusion research with entrepreneurship and training to transform these solutions into scalable, viable and high impact businesses. We are keen on partnering with entrepreneurs who are driven by building next-generation digital services for India. Reach out to us at or ask your questions in the comments section below.