Sucharita Mukherjee india fintech award
Sucharita Mukherjee india fintech award

Sucharita Mukherjee, co-founder of Kaleidofin was announced “Woman Leader of the year” at India Fintech Awards 2018 on Friday. Co-founded with Puneet Gupta, Kaleidofin is India’s first wealth-tech startup that offers simple, well designed financial solutions to address the needs of 600 million underbanked and unbanked Indians. 

Said Sucharita, “My dream is to ensure every single customer has the right financial solutions, the tools they need in order to reach their life’s goals and ambitions. Kaleidofin is dedicated to ensuring this journey becomes real for every last customer.”

Kaleidofin works on the key principle of wealth management by providing structured financial planning to conserve and multiply wealth/savings of the informal sector. A robo-advisory app helps to identify the right saving solution mapped to an individual’s persona, life goal and risk capacity. Kaleidofin products are linked to credit and insurance providing much essential support for any unforeseen cash needs. 

Kaleidofin’s distribution model is adapted from the B2B2C framework through partnerships with MFIs, banks, NBFCs, corporates etc. At present Kaleidofin has tie-ups with Sewa Bank, Sonata, Sewa Bharat, DSNL, Telekonnectors for on ground support. It also has tie-ups with ICICI Prudential AMC, ICICI Prudential Life, Bharti AXA Life & Bharti AXA General for product fulfillment.

Sucharita and Puneet, both ex-IFMR, realized that none of the existing financial service products addressed the need for micro-saving or micro-insurance. They believe that matching saving needs to life-goals will help to inculcate the discipline of saving in lower-income groups in turn uplifting their living standards.

Kaleidofin started operations in February 2018 and is currently operational in Gujarat, Tamil Nadu, Rajasthan, Bihar & Maharashtra. In less than 6 months they have a customer base of over 6,000 customers.

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