Seeds Fincap, a financial institution catering to MSMEs, has successfully raised Rs 50 crore, equivalent to $6 million, in its Series A1 funding round, with the initial tranche of Rs 32 crore already secured from Lok Capital.
The company plans to utilize this investment as growth capital to expedite its expansion efforts in both existing and new geographical areas, as stated in a press release by Seeds Fincap.
Co-founded by Subhash Acharya and Avishek Sarkar, Seeds Fincap specializes in providing tailored financial solutions to small businesses, with a strong emphasis on risk management and the utilization of technology. Presently, the company operates across six states through a network comprising 72 branches. With assets under management (AUM) totaling Rs 212 crore, Seeds Fincap claims to have facilitated over 40,000 disbursements amounting to Rs 340 crore.
Lok Capital, an investor in financial services, agritech, healthtech, and climate tech, has managed four funds to date, with more than 40 investments and 30 successful exits. Seeds Fincap represents the fourth investment for Lok Capital IV, following MoneyView, Aquaconnect, and SuperBottoms.”
Seeds Fincap secures $6 million Backed by seasoned professionals of the financial sector, SEEDS, with its operations running successfully in 3 states – Uttar Pradesh, Haryana and Rajasthan with 41 branches, is a perfect example of human and artificial intelligence amalgamation enabling it to manage more than 16000 MSME customers.
Bootstrapped, SEEDS has also tied up with two reputed financial services companies in some pockets on a Business Correspondent model basis. The company has also started secured financing in Q1 FY23.
Seeds Fincap Private Limited (SEEDS), a Gurugram-headquartered fast growing NBFC Start-up
