Gurugram-based non-banking financial company (NBFC) Seeds Fincap has raised more than Rs 100 crore ($10.4 million) in a Series B funding round led by the Michael & Susan Dell Foundation.
The round also saw participation from existing investors Z47 and Lok Capital, along with Norinchukin Capital and Alteria Capital.
The fresh capital will be used to expand Seeds Fincap’s presence in new markets and strengthen its branch network, technology and risk management capabilities. The company is targeting Rs 1,000 crore in assets under management (AUM) by March 2027 while continuing to focus on credit assessment and portfolio quality.
Founded in 2021 by Subhash Chandra Acharya, Avishek Sarkar and Sumeet Dhall, Seeds Fincap provides credit to underserved individual and micro, small and medium enterprise (MSME) borrowers. The company offers loans ranging from Rs 50,000 to Rs 10 lakh and uses a cash flow-based approach to assess borrowers.
The latest funding follows a Rs 50 crore ($5.5 million) round raised by Seeds Fincap last year, which was led by Z47 and Lok Capital. Earlier, in July 2024, the company raised more than $8.5 million in a Series A round led by Lok Capital and Matrix Partners India, which is now known as Z47.
Seeds Fincap closed both FY25 and FY26 profitably. The company disbursed around Rs 620 crore in FY26, while its AUM stood at Rs 722 crore as of August 2026.
The NBFC has also expanded its physical presence to 164 branches and has more than 70,000 active members.
Seeds Fincap primarily serves nano enterprises and small businesses, particularly borrowers whose business cash flows may not be fully captured through traditional credit assessment methods. Its lending operations combine technology with field teams across sourcing, onboarding, credit assessment, documentation, collections and portfolio monitoring.
The company’s lending model is focused on evaluating the cash flows of small businesses and individual borrowers while maintaining a focus on portfolio quality and risk management.
With the latest Series B funding, Seeds Fincap plans to expand into additional markets while investing in its branch network and technology capabilities. The company is also working towards its target of Rs 1,000 crore in AUM by March 2027.
The funding marks another capital raise for Seeds Fincap as it continues to expand its lending operations for underserved individual and MSME borrowers across India.
 Seeds Fincap has raised more than Rs 100 crore ($10.4 million) in a Series B funding round..){kind=link}