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[Funding News] Seeds Fincap Secures $8.5 Mn Funding Round Led by Lok Capital and Z47

By Team VS
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AVISHEK SARKAR, co-founder, Seeds Fincap

Lok Capital and Matrix Partners India (now Z47) have led a Series A funding round for Non-Banking Financial Company (NBFC) Seeds Fincap, which has raised more than $8.5 million.

The funds will allow Seeds Fincap to broaden its branch footprint, enhance its technological infrastructure, and expand its lending capabilities.

Seeds Fincap's objective is to provide medium and small business owners with credit products that are specifically designed to satisfy their financial requirements. The Gurugram-based lender offers secured and unsecured loans to MSMEs with a ticket size of Rs 1-5 lakhs.

The company utilises technology to monitor risk and reduce operational expenses, while also employing a rigorous credit assessment process to evaluate cash flows and offer loans at the appropriate price.

Read also - Corvi LED Secures $8 Mn in Series B Funding Round from Enam Investments

Seeds Fincap has established a network of 90 branches in 8 states, with a substantial presence in UP, Bihar, Rajasthan, and Haryana. Seeds Fincap has claimed to have disbursed over Rs 600 crore in loans, serving over 50,000 consumers, and has expanded its loan book to over Rs 330 crore over the course of three years.

The NBFC has also established a diversified liability base with over 35 lending partners, including AU Small Finance Bank, Tata Capital, IDFC Bank, Yes Bank, and Vivriti Capital.

About Seeds Fincap

Founded in 2019 by Subhash Chandra Acharya, SEEDS FINCAP PVT. LTD. is a Delhi NCR-based non-deposit-taking NBFC. With its headquarters in Gurugram (erstwhile ‘Gurgaon), we aim to serve a million MSMEs - Micro, Small, and Medium Enterprises in India in this decade.

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ParkMate has Secured $1.2 Million in a New Funding

ParkMate is the ultimate hassle-free parking solution. Our app-based platform offers a seamless experience by allowing you to 'Order a Valet' at any location.

By Aryan Sharma
New Update
ParkMate has Secured $1.2 Million in a New Funding

Cactus Partners is an early growth-stage startup fund, is leading a fresh round of $1.2 million secured by ParkMate, a supplier of parking solutions. The financing also included participation from current backers including the Marwah Group Family Office and Venture Catalysts.

Funding Utilisation

ParkMate claims that the money will be utilized to accelerate its growth trajectory, make investments in its workforce to attract clients, simplify its business processes, and keep coming up with new ideas.

Read Also - Univest To Secured $16 Million in Funding 

ParkMate, which was founded by Dhananjaya Bharadwaj, provides intelligent parking solutions to government parking contractors as well as corporate hotels, office buildings, and retail centers.

Car owners who use the company's unique DaSH (Drop & Shop) service may park their vehicles at shopping centers, arcades, and business buildings in less than two minutes. It is recognized by the Telangana, UP, Fun Republic, Phoenix Mills, and DLF governments. Another big market for ParkMate is smart cities.

Among its immediate rivals are Park+, Get My Parking, Park Smart, and Parky.

The biggest participant in this market is Park+. The business launched Drive+ in June, establishing itself as a possible rival to DriveU, Drivers4Me, Driverzz, PickMyCar, Namma Driver, and Cars24 in the on-demand driver services market.

Since January 2021, this is Cactus Partners' ninth investment. The company has made investments in businesses including Rubix Data Science, AMPM Fashions, Auric, Indigrid Technology, Lohum Cleantech, Kapture CX, and Vitraya Technologies. 

About ParkMate

ParkMate, the ultimate hassle-free parking solution. Our app-based platform offers a seamless experience by allowing you to 'Order a Valet' at any location. Simply arrive at your destination, and ParkMate takes care of the rest. Our professional valets pick up and drop off your vehicle at the nearest parking facility, while you track its location in real time through the user-friendly app.

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Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Startup Funding News: Stay updated with the latest news and trends in startup funding and investment.