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.
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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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