Gurugram-based NBFC Seeds Fincap has raised more than Rs 100 crore ($10.4 million) in a Series B funding round led by Michael & Susan Dell Foundation, as the lender looks to deepen its presence across underserved segments and strengthen its lending infrastructure.
The round also saw participation from existing investors Z47 and Lok Capital, along with Norinchukin Capital and Alteria Capital, bringing continued backing from both existing and new institutional investors.
The latest fundraise follows a Rs 50 crore ($5.5 million) round secured last year, led by Z47 and Lok Capital. Earlier, in July 2024, Seeds Fincap raised more than $8.5 million in a Series A round led by Lok Capital and Matrix Partners India, which has since been renamed Z47.
With the fresh capital, the company plans to expand into new markets while strengthening its branch network, technology infrastructure and risk management capabilities. Seeds Fincap is targeting Rs 1,000 crore in assets under management (AUM) by March 2027, with a continued focus on disciplined credit assessment and maintaining portfolio quality.
Founded in 2021 by Subhash Chandra Acharya, Avishek Sarkar and Sumeet Dhall, Seeds Fincap focuses on providing credit to underserved individual borrowers and micro, small and medium enterprises (MSMEs). Its loan offerings range from Rs 50,000 to Rs 10 lakh, with the company using a cash flow-based approach to understand borrowers and assess their repayment capacity.
The NBFC closed both FY25 and FY26 profitably and disbursed around Rs 620 crore during FY26. Its AUM stood at Rs 722 crore as of August 2026. Over the same period, the company expanded its network to 164 branches and crossed 70,000 active members.
At the heart of Seeds Fincap’s lending model is its focus on nano enterprises and small businesses, many of which operate in segments where conventional credit assessment may not always capture the full picture of business cash flows.
To address this gap, the company combines technology with an on-ground field network covering sourcing, onboarding, credit assessment, documentation, collections and portfolio monitoring. This approach allows Seeds Fincap to build a closer understanding of small business owners while supporting access to formal credit.
With its latest fundraise, the company is now looking to build on this model, expand its reach and strengthen the systems needed to serve India’s underserved small-business and individual borrower segment at scale.
