Seeds Fincap raised $8.5M in Series A led by Lok Capital, Z47
Seeds Fincap specialises in offering secured and unsecured loans ranging from Rs 1-5 lakh, tailored to the needs of MSMEs across sectors like manufacturing and trading.
Seeds Fincap has secured $8.5 million in Series A funding led by Lok Capital and Z47 (formerly Matrix Partners India ).
The funds will enable Seeds Fincap, a non-banking financial company (NBFC) founded in 2021, to expand its lending capabilities, enhance its technological infrastructure, and broaden its branch footprint, the company said in a statement.
"MSMEs in India continue to be under-served on credit, often overlooked by incumbent financial institutions. At Seeds Fincap, we've developed a unique credit evaluation framework supported by a tech-enabled sourcing-to-collections process designed to empower enterprises with tailored financial solutions," Subhash Acharya, Managing Director and Co-founder, Seeds Fincap Pvt. Ltd said in a statement.
Seeds Fincap specialises in offering secured and unsecured loans ranging from Rs 1-5 lakh, tailored to the needs of MSMEs across sectors like manufacturing and trading. With a network spanning 90 branches across eight states, the Gurugram-based firm has disbursed over Rs 600 crore to more than 50,000 clients.
"MSME credit represents a massive opportunity in India as we scale towards becoming a $10 trillion economy, and is essential to that goal. Our thesis is to invest in high-quality businesses serving this segment with tailored “right-tech”, contextual credit products, especially in underserved geographies like North and Central India," Vikram Vaidyanathan, Managing Director, Z47, said.
(The copy has been updated to reflect Matrix Partner India's rebranding to Z47)
Edited by Affirunisa Kankudti