PE-VC Fund Investments
Lender to SMEs Seeds Fincap raises Rs.50-Cr led by Lok Capital, Z47
Gurugram-based Seeds Fincap , a non-deposit-taking NBFC (non-banking financial company) has raised INR 50 crore in a pre-series B round led by Z47 and Lok Capital, with participation from Norinchukin Capital and Alteria Capital.The fresh funds will be used by the company for expansion into new geographies and for strengthening technology and risk infrastructure.Founded by Subhash Acharya and Avishek Sarkar, Seeds Fincap provides secured and unsecured loans to MSMEs (micro, small and medium enterprises). It operates through 120 branches across eight states and claims to have more than 45,000 clients.
Between Sep-23 and Jun-24, Seeds Fincap had attracted about USD 14.50 M from Z47 and Lok Capital.For FY24, Seeds Fincap had reported about INR 59.03Cr in Operating Income and about INR 3.63Cr in Net Loss.
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