Whats Sucharita Mukherjee’s Story thats Empowering India’s Underbanked Women Through Kaleidofin?

Kaleidofin: Pioneering Financial Inclusion for Women in India

In 2017, Sucharita Mukherjee co-founded Kaleidofin, a Chennai-based fintech platform, with a clear mission: to provide under-banked customers, particularly women, with tailored financial solutions. Having previously served as CEO of IFMR Holdings, Mukherjee’s deep understanding of financial inclusion and personal experience as a woman shaped her vision for the company. Alongside Puneet Gupta, Mukherjee built a platform that today serves over 3 million users, 97% of whom are women, many of them small-time entrepreneurs.

Early Inspiration and Motivation

Mukherjee’s journey to entrepreneurship was driven by a desire to make a tangible impact. A Lady Shri Ram College and IIM-Ahmedabad alumna, she began her career in London with Deutsche Bank and later Morgan Stanley. Despite professional success, Mukherjee felt a lack of purpose in her work. This introspection led her to explore opportunities in financial inclusion back in India, inspired by her father, an Army officer, who instilled in her a sense of giving back.

It was during her time with IFMR Trust, founded by former ICICI Bank veteran Nachiket Mor, that Mukherjee’s vision began to crystallize. At IFMR, she co-founded Northern Arc Capital and Northern Arc Investments, focusing on building capital market access for financial inclusion.

Building Kaleidofin

Kaleidofin was born out of a commitment to make financial products intuitive, flexible, and personalized for real-life goals. With the support of investors like Bharat Fund, Blume Ventures, and the Bill & Melinda Gates Foundation, Kaleidofin quickly expanded its reach. The platform connects financial service providers, including banks and insurance companies, to women-led small businesses through a wide network of agents and partnerships with microfinance institutions and cooperative banks.

Innovative Products

Kaleidofin offers four main products, each designed to address specific financial needs:

  1. Ki Score: This is a credit and financial health score that helps lenders make informed credit decisions using AI/ML models. It addresses the gap in underwriting for underserved customers.
  2. Ki Credit: This middleware assists with the onboarding process and fraud checks for lenders, ensuring a smoother credit disbursement process.
  3. Ki View: A risk management dashboard that helps lenders monitor and manage risks post-disbursement. It provides alerts in natural language, simplifying the decision-making process for risk managers.
  4. Ki Cash: A customer engagement platform that acts as a fully digital savings bank, enhancing the effectiveness of other financial products. Through this platform, Kaleidofin distributes mutual funds and insurance.

Adapting to Challenges

The COVID-19 pandemic posed significant challenges, halting sales and straining finances. Mukherjee and her team adapted by introducing products like masks and loungewear to meet immediate needs and preserve cash flow. This adaptability underscores Kaleidofin’s resilience and commitment to supporting its customer base through turbulent times.

A Focus on Women

Kaleidofin’s focus on women, particularly those in small businesses, is a cornerstone of its strategy. Mukherjee believes that opportunities given to women can transform their lives, a belief reflected in the company’s user demographics and product offerings. This focus has also shaped the company’s internal culture, with a majority of its board members being women, a rarity in India’s corporate landscape.

Looking Ahead

As Indian fintech continues to grow, with revenues expected to reach $190 billion by 2030, Kaleidofin is poised for its next phase of expansion. Mukherjee and Gupta are focused on enhancing their credit platform and improving Ki Score to stay ahead of the curve. Their goal is to scale up customer impact, ensuring that Kaleidofin remains a leader in financial inclusion.

Ashish Fafadia, a partner at Blume Ventures, highlights the company’s innovative use of data, AI, and debt to make efficient credit decisions. He believes that Kaleidofin’s product range will become indispensable for financial institutions worldwide.

Kaleidofin’s journey from inception to becoming a key player in financial inclusion is a testament to the vision and dedication of its founders. Mukherjee’s personal drive to find purpose in her work has translated into a platform that empowers millions, particularly women, to achieve financial freedom and progress.

Impact and Future Vision

Kaleidofin’s commitment to financial inclusion has transformed the lives of many, particularly women entrepreneurs. By focusing on goal-based savings and providing tailored financial solutions, the platform has enabled users to meet diverse objectives, from expanding small businesses to investing in their children’s education.

Mukherjee emphasizes the importance of financial products that are not only accessible but also intuitive and flexible. For many of Kaleidofin’s customers, financial stability means the ability to make significant life changes, such as building a bathroom in their home or ensuring their children receive a quality education. These tangible impacts underscore the importance of goal-based financial planning.

Challenges and Adaptations

Navigating the complex landscape of financial inclusion, particularly during the COVID-19 pandemic, required innovative thinking and resilience. The pandemic disrupted operations, but Kaleidofin quickly adapted by diversifying its product offerings to include essential items like masks and loungewear. This ability to pivot in response to changing market conditions helped the company maintain its financial stability and continue serving its customers.

Mukherjee’s leadership and vision have been critical in guiding Kaleidofin through these challenges. Her background in financial structuring and her passion for inclusive finance have shaped the company’s strategic direction and operational resilience.

Empowering Women

Kaleidofin’s focus on women is not just a business strategy but a mission to empower a demographic often overlooked in financial services. With 97% of its user base being women, the company has created financial products that cater specifically to their needs. By providing access to savings, credit, and insurance, Kaleidofin helps women entrepreneurs build and sustain their businesses, contributing to broader economic development.

The company’s board, predominantly composed of women, reflects its commitment to gender diversity and empowerment. This unique composition provides a competitive advantage, fostering an inclusive and supportive environment that resonates with its customer base.

Looking Forward

As Kaleidofin looks to the future, Mukherjee and Gupta are focused on scaling their credit platform and enhancing Ki Score. By leveraging advanced technologies like AI and ML, Kaleidofin aims to improve credit underwriting processes and risk management, ensuring that financial products remain accessible and effective for their users.

The company’s strategic vision includes expanding its reach and impact, particularly in underserved regions. With a robust network of 50 channel partners across 17 states, Kaleidofin is well-positioned to continue its mission of financial inclusion.


Kaleidofin’s journey from a startup to a leading fintech platform exemplifies the power of purpose-driven entrepreneurship. Mukherjee’s decision to leave a settled career in London and return to India to address financial inclusion challenges has resulted in a platform that empowers millions, especially women. By providing intuitive, goal-based financial solutions, Kaleidofin is not just changing individual lives but also contributing to broader socio-economic development.

As the company gears up for its next phase of growth, it remains committed to its founding mission: making financial freedom and progress possible for everyone, particularly those in informal sectors. With its innovative products, strategic vision, and unwavering focus on empowering women, Kaleidofin is set to continue making a significant impact in the fintech landscape.


Himanshi is a dedicated content writer. With a keen eye for detail and a flair for storytelling, she strives to bring stories to life through her words.

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