Kineara was established in 2012 to provide intervention services to households facing eviction. Through intensive support related to rent support, education and employment. Kineara partners with housing associations, local authorities and schools to prevent homelessness. To date, Kineara has supported nearly 200 households in East London.
An investment was made in October 2018 for GBP140k for capacity building as well as investment in IT systems to prepare the organisation to scale.
Profit share agreement in order to match the variability and lumpy nature of Kineara’s cash flows which is capped at 1.1x; thus terminated upon repayment. The expectation is that the financial instrument will be paid in 10 years.
Through working in collaboration with Kineara, we highlighted that the organisation structure was not well positioned for scaling and the founder would need help in putting together the correct middle management in place as well as mentoring around preparing the organisation for growth. We also aided in building a realistic business plan, helped with internal budgeting and strategic planning and put together processes and procedures for internal financial controls. We have highlighted that in time we will need to develop an appropriate corporate governance structure as Kineara grows.