Seeds Fincap Secures $6 Million in Series A1 Funding from Lok Capital for MSME Growth
MSME Seeds Fincap Pvt. Ltd. secures $6 million in Series A1 funding from Lok Capital, boosts their financial strength for growth.
Seeds Fincap Pvt. Ltd., a specialized financial institution focused on serving MSMEs (Ministry of Micro, Small & Medium Enterprises) and operating through a network of 72 branches across six states, has secured funding in the Series A1 round from Lok Capital. This significant investment will act as a catalyst for the company's expansion efforts in both its current regions and new markets in the upcoming fiscal year.
Founded in 2021 by Mr. Subhash Acharya and Mr. Avishek Sarkar, Seeds Fincap is committed to meeting the financial needs of small businesses by providing customized financial products, with a strong emphasis on risk management and technology integration. The company has an impressive track record, managing Assets Under Management (AUM) valued at INR 212 crore. Through a workforce of over 700 employees, Seeds Fincap has facilitated more than 40,000 disbursements, summing an impressive amount of Rs 340 crore.
Lok Capital has pledged to invest INR 500 million in the Series A funding round, with the initial installment of INR 320 million already secured. This substantial infusion of capital will not only boost Seeds Fincap's financial stability but also serve as a vote of confidence in the institution's commitment to promoting financial growth and inclusion.
Seeds Fincap Pvt. Ltd. has outlined a strategic expansion plan that involves entering new geographical regions while concurrently strengthening its presence in existing states. The investment from Lok Capital aligns perfectly with the company's vision of reaching underserved areas and extending financial inclusion opportunities to a wider audience.
Vishal Mehta, the Founder and Partner at Lok Capital, expressed their admiration for Seeds' systematic approach, utilization of technology, proactive operational management, and emphasis on credit and risk management. He said that they are eager to anticipate collaborating with the Seeds team as they move into less serviced regions in northern and central India.
Mr. Subhash Chandra Acharya, the Managing Director and CEO of Seeds Fincap Pvt. Ltd., has expressed his enthusiasm for the support received from Lok Capital, which will drive an exciting phase of growth and empowerment for the institution.
He emphasized their dedication to empowering MSMEs and driving economic development at the grassroots level. He further highlighted that the successful Series A funding represents a significant milestone in Seeds Fincap Pvt. Ltd.'s journey to redefine financial empowerment in India.
The initiatives undertaken by Seeds Fincap have a broad-reaching impact, extending well beyond individual businesses. Their proactive approach generates increased economic activity, initiating a positive ripple effect throughout the communities they serve.
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