NBFC Finodaya Capital Secures $2.5Mn Seed Funding Led By White Venture Capital

Non-banking financial company (NBFC) Finodaya Capital has raised $2.5 million in a seed funding round led by fintech-focused venture capital firm White Venture Capital.

 Early-stage investor Gemba Capital and several angel investors also participated in this round.

The startup closed its seed funding round at a post-money valuation of Rs 50 crore.

The startup plans to give small loans to micro and small businesses in India using property as security. It will use both online tools and physical branches to check applications and give out the loans.

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“Many micro and nano enterprises are trapped in cycles of high-cost borrowing from local moneylenders. We aim to break that pattern by providing fair and adequate financing to help them grow. More importantly, we’re enabling their transition into the formal financial system—by offering the right support to strengthen their credit profile, making them ready for the next phase of their growth,” said Lokendra Tomar, cofounder of Finodaya Capital.

“We are excited to partner with the Finodaya team in their mission to unlock secured credit for India’s small businesses. Their deep domain expertise, speed of execution, and vision to combine digital infrastructure with local knowledge make them uniquely positioned to build a scalable and trusted NBFC,” said Sweta Rau, Founder and General Partner at White Venture Capital.

About Finodaya Capital

Finodaya, which was granted its NBFC licence by the Reserve Bank of India on 11 April, was founded by former ICICI Bank executives Tomar, Abhitabh Dixit and Neeraj Biyani.

Finodaya aims to support micro and nano businesses, a group often missed by regular banks. It plans to open 15 branches in Madhya Pradesh in the next six months and aims to give out loans worth Rs 50–100 crore by next year.

Before getting its NBFC license, Finodaya worked with Utkarsh Small Finance Bank to help provide and manage loans. Now, with its new license, the company is ready to start giving out loans directly and is also looking to partner with other lenders to offer joint loans.

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