PRNewswire Bengaluru Karnataka [India] May 16 Kinara Capital India fast-growing fintech driving MSME financial inclusion today reported its FY24 financial year results marking it as the organization 9th consecutive year of profitability Closing the year with profit after tax PAT of INR 62 crores a 51 year-over-year YoY jump has further demonstrated the viability of Kinara unique business model of blending technology with omnichannel customer service In FY24 Kinara Capital marked YoY revenue growth of 47 with revenues totaling INR 723 crores while the operational expenses OpEx as a percentage of the AUM decreased by 32 thus further boosting the annual profits Kinara Capital loan book grew by 26 in FY24 YoY with its year-end assets under management AUM recorded at INR 3142 crores Specializing in providing formal credit without property collateral to support India small business entrepreneurs Kinara Capital is purposefully focused on financial inclusion of the micro-small-medium-enterprise MSME sector Easing access to credit with its multilingual myKinara App the fintech NBFC disbursed more than 26343 new business loans in the last year leading to a 35 YoY increase in the number of loans disbursed In FY24 Kinara active MSME customer base increased by 30 YoY while there was a marked 42 YoY increase in its active customer base of women-owned MSMEs Hardika Shah Founder CEO Kinara Capital said Our resilient business model and our unwavering eye on the mission of financial inclusion has led to nearly a decade of growth and consecutive profitability In FY24 beyond our high-touch and high-tech model we also expanded our reach to MSMEs in other states with embedded finance solutions through partnerships Looking ahead we are excited as we set our sights on supporting thousands more MSMEs doubling our AUM by FY26 and crossing the USD 100 million mark in revenues in FY25 In its first year of partnerships Kinara Capital disbursed over INR 100 crores in FY24 indicating a vast opportunity ahead for new partnerships Kinara Capital currently has 133 branches in regions representing approximately 70 of India manufacturing output Thus the growth plans for the future will be anchored on Kinara penetrating further into existing geographies via its branch-led model and reaching new MSMEs via its partnerships model The fintech will also bolster its technology prowess with strategic long-term investment in its in-house tech to create Lending-as-a-Service LaaS set of customizable APIs in order to integrate with more partners in the future Since its inception Kinara Capital has cumulatively disbursed more than INR 6700+ crores across over 12 lakh number of collateral-free business loans leading to job creation and income generation in local economies Overall the AUM of Kinara Capital has grown at a CAGR of 51 over the past 3 years indicating a thriving landscape for MSME financial inclusion About Kinara Capital Kinara Capital is a fast-growing fintech dedicated to the last-mile financial inclusion of small business entrepreneurs in India In 2024 Kinara Capital ranked on the FT500 list from Financial Times of Top 500 High-Growth Companies in Asia-Pacific for the 5th consecutive year Led by the visionary Founder CEO Hardika Shah Kinara Capital is noted among the 40 Fastest-growing Fintechs in Asia Qualified as a Systemically Important Non-Banking Financial Company NBFC by the Reserve Bank of India RBI Kinara Capital holds a BBB Positive rating from ICRA and BBB+ Stable ratings from CARE and India Ratings Kinara Capital is also a debt-listed entity on the Bombay Stock Exchange BSE Founded in 2011 and headquartered in Bengaluru Kinara Capital has a workforce of 2000+ employees Visit httpskinaracapitalcom for more information and follow us on LinkedIn This press release may contain projections and other forward-looking statements regarding future events or future financial performance These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time Given business risks and uncertainties undue reliance on these forward-looking statements should not be placed Actual events or results may differ materially from those contained in the projections or forward-looking statements ADVERTORIAL DISCLAIMER The above press release has been provided by PRNewswire ANI will not be responsible in any way for the content of the same