VC Fund Investments
Supply-chain focused fintech startup Nakad raises $7-M from Accel, Matrix
Delhi-based supply-chain financing provider Nakad has raised USD 7 million as a part of its seed funding round, co-led by Accel India and Matrix Partners India. The round also saw participation from AdvantEdge Founders and angel investor including Razorpay's Harshil Mathur and Shashank Kumar; Zetwerk's Amrit Acharya and Rahul Sharma; Uni Cards founder Nitin Gupta; and Zolve's Raghunandan G. Nakad provides working capital credit to small and medium enterprise (SME) suppliers of corporate vendors. The company will use the new funds to scale its presence and increase employee headcount across technology, product, customer success and business development. Nakad also expects to expand its customer base across pharmaceuticals, chemical, auto construction, capital goods and consumer durables.
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