Seeds Fincap, a Non-Banking Financial Company (NBFC), has successfully raised over $8.5 million in a Series A funding round led by Lok Capital and Matrix Partners India (now Z47). According to a press release by the company, these funds will support Seeds Fincap in expanding its lending capabilities, enhancing its technological infrastructure, and increasing its branch network.
Seeds Fincap, headquartered in Gurugram, aims to cater to the financial needs of medium and small business owners through specialized credit products. The company offers both secured and unsecured loans ranging from Rs 1-5 lakhs to MSMEs. Their approach includes a rigorous credit assessment process that evaluates cash flows to provide appropriately priced loans. Leveraging technology, Seeds Fincap also monitors risk effectively, thus optimizing operational costs.
Founded in 2021 by Subhash Acharya and Avishek Sarkar, Seeds Fincap has established a network of 90 branches across 8 states, with a strong presence in UP, Bihar, Rajasthan, and Haryana. Over the past three years, the company claims to have disbursed more than Rs 600 crore in loans, benefiting over 50,000 customers, with their current loan book exceeding Rs 330 crore.
Seeds Fincap has developed a diversified liability base, collaborating with over 35 lending partners that include AU Small Finance Bank, Tata Capital, IDFC Bank, Yes Bank, and Vivriti Capital.
Recently, Matrix Partners India rebranded to Z47, aligning with its venture capital activities in India while continuing its operations in the US under the Matrix brand. Matrix/Z47 operates as an early-stage venture capital fund with headquarters in Boston and San Francisco.
