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Friday / June 14. 2024
HomeCompany NewsSeeds Fincap secures $6 Mn in series A funding from Lok Capital

Seeds Fincap secures $6 Mn in series A funding from Lok Capital

This investment from Lok Capital aligns with the company’s vision to reach more underserved areas and offer financial inclusion opportunities to a broader audience

Seeds Fincap Pvt. Ltd., an MSME-focused financial institution with a presence in six states through a network of 72 branches, has raised its Series A1 round funding from Lok Capital. The investment will be used as growth capital by the company to accelerate expansion in existing and new geographies in the upcoming fiscal year.

Lok Capital has committed to invest INR 500 million in Series A, of which the first tranche of INR 320 million has been closed. Bolstering its capabilities and laying the foundation for transformative growth, this financial boost not only strengthens SEEDS’s financial prowess but also stands as a resounding endorsement of the institution’s unwavering dedication to promoting financial growth.

Seeds Fincap was founded by Subhash Acharya and Avishek Sarkar in 2021 with the objective of meeting the financial needs of small businesses with customised products with a clear focus on risk management and leveraging technology. With Assets Under Management (AUM) of INR 212 crore, Seeds Fincap has over 700 employees and an impressive track record of facilitating over 40,000 disbursements totalling INR 340 crore.

Seeds Fincap Pvt. Ltd.’s strategic expansion plan includes entering new geographies while simultaneously expanding its footprint in existing states. This investment from Lok Capital aligns with the company’s vision to reach more underserved areas and offer financial inclusion opportunities to a broader audience.

Subhash Chandra Acharya, MD and CEO of Seeds Fincap Pvt. Ltd. commented on this milestone, “With the support of Lok Capital, Seeds Fincap Pvt. Ltd. is gearing up for an exciting phase of growth and empowerment. We are thrilled to embark on this exciting phase of growth and expansion. The Series A funding is a testament to our dedication to empowering MSMEs and fostering economic development at the grassroots level Seeds Fincap Pvt. Ltd.’s accomplishment in securing Series A funding marks a pivotal juncture in its journey to redefine financial empowerment in India.”

Vishal Mehta, Founder and Partner at Lok Capital noted, “We have been impressed by Seeds’ systems-driven approach, leveraging technology, hands-on operational management, and a strong focus on credit and risk. This aligns with our approach to investments in the financial services domain, and we look forward to working with the team as they expand into underserved geographies in north and central India.”

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