Seeds Fincap, a non-banking financial company (NBFC) focused on lending to underserved micro, small and medium enterprises (MSMEs), has raised Rs 50 crore in a pre-Series B round led by existing investors Z47 and Lok Capital. New investors Norinchukin Capital and Alteria Capital also participated.
The company said it will used the funds to expand into new regions, strengthen technology and risk infrastructure, and accelerate growth ahead of its planned Series B raise.
Founded in 2021 by Subhash Chandra Acharya and Avishek Sarkar, Seeds Fincap operates through 120 branches across eight states and has disbursed over Rs 1,000 crore in loans. It manages more than Rs 500 crore in assets and has kept non-performing assets below 2%, according to the company.
“Our approach—combining advanced analytics, strong field control, and full-stack digitization—allows us to lend responsibly at scale. This round is a strong validation of our model and positions us well for our upcoming Series B,” said Acharya, Managing Director and Co-founder, in a statement.
Sarkar, Director and Co-founder, said: “Serving MSMEs means solving complexity with empathy. We’ve built a culture of execution and contextual intelligence, and we’re seeing that translate into real outcomes on the ground. This funding allows us to continue deepening our reach, expanding our product suite, and scaling responsibly.”
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Anish Patil, Vice President at Z47, said the company’s “deep focus on tech-enabled field operations, strong hold on credit underwriting, coupled with rigorous portfolio monitoring and diversified presence, has helped them deliver superlative asset quality in a testing market.”
Rajat Bansal, managing director at Lok Capital, said: “Seeds is delivering the rare combination of high-quality credit, deep market reach, and real impact.”
Hiroki Kawabata, director at Norinchukin Capital, said the lender’s ability to stay close to the ground while building scalable, tech-enabled systems stood out.
“What we really value is their deep understanding of customer needs, combined with the discipline to scale responsibly,” said Ankit Agarwal, Managing Partner at Alteria Capital.
Edited by Megha Reddy
