Seeds Fincap, a Gurugram-based Non-Banking Financial Company (NBFC), has secured over $8.5 million in a Series A funding round led by Lok Capital and Z47 (formerly Matrix Partners India).
The funding will bolster Seeds Fincap’s lending capabilities, enhance technological infrastructure, and expand its branch network, according to a company press release.
Established in 2021 by Subhash Acharya and Avishek Sarkar, Seeds Fincap specializes in providing secured and unsecured loans tailored for medium and small business owners, with ticket sizes ranging from Rs 1-5 lakhs.
The company employs a rigorous credit assessment process to evaluate cash flows and offer competitively priced loans, leveraging technology to mitigate risks and streamline operations.
With a network spanning 90 branches across 8 states, including a strong presence in UP, Bihar, Rajasthan, and Haryana, Seeds Fincap claims to have disbursed over Rs 600 crore in loans over three years, benefiting more than 50,000 customers. The NBFC’s loan book has expanded to exceed Rs 330 crore.
Seeds Fincap has also cultivated a diverse liability base, partnering with over 35 lending institutions such as AU Small Finance Bank, Tata Capital, IDFC Bank, Yes Bank, and Vivriti Capital.
Earlier last month, Matrix Partners India rebranded to Z47, aligning its identity with its global operations while maintaining its focus on early-stage venture capital investments.
