Seeds Fincap Secures $6 Million in Series A Funding from Lok Capital
- ByStartupStory | September 15, 2023
Seeds Fincap, a financial institution that caters to micro, small, and medium-sized enterprises (MSMEs), has successfully raised Rs 50 crore, equivalent to $6 million, in its Series A1 funding round. This round, led by Lok Capital, with the initial tranche of Rs 32 crore already closed, is expected to provide the growth capital needed to fuel Seeds Fincap’s expansion plans in both existing and new regions.
Founded by Subhash Acharya and Avishek Sarkar, Seeds Fincap specializes in addressing the financial needs of small businesses by offering customized financial products that emphasize risk management and leverage the power of technology. The company has established a presence in six states, boasting a network of 72 branches. With assets under management (AUM) totaling Rs 212 crore, Seeds Fincap proudly reports facilitating more than 40,000 disbursements amounting to Rs 340 crore.
Lok Capital, a leading impact investor, has a noteworthy track record with four funds and over 40 investments under its belt, coupled with 30 successful exits. The firm’s investment portfolio spans various sectors, including financial services, agritech, healthtech, and climate tech. Seeds Fincap joins a prestigious list of investments made by Lok Capital IV, following names like MoneyView, Aquaconnect, and SuperBottoms.
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