Seeds Fincap, a Gurugram-based non-banking financial company (NBFC) that lends to underserved individuals and small businesses, has raised more than ₹100 crore (about $10.4m) in a Series B round led by the Michael & Susan Dell Foundation. Inc42 reported the round on 1 October 2026.
Existing investors Z47 and Lok Capital took part, along with new backers Norinchukin Capital and Alteria Capital. The company did not disclose its valuation.
What Seeds Fincap does
Seeds Fincap was founded in 2021 by Subhash Chandra Acharya, Avishek Sarkar and Sumeet Dhall. Acharya is co-founder, managing director and chief executive. The company lends to individual borrowers and to micro, small and medium-sized enterprises (MSMEs) that are poorly served by traditional lenders. Instead of relying mainly on credit history, it assesses borrowers on their cash flow, using its own underwriting method backed by technology and field staff.
Loans start at ₹50,000 (about $520). CXO Digital Pulse reported that they go up to ₹10 lakh (about $10,400), while Inc42 gave a lower top figure of ₹1 lakh (about $1,040).
As of August 2026, Seeds Fincap had assets under management (AUM) of ₹722 crore (about $75m), 164 branches and more than 70,000 active members. It disbursed around ₹620 crore (about $64m) in the 2026 financial year and says it closed both FY25 and FY26 with a profit.
What the money is for
The company said the new capital will take it into new markets and strengthen its branch network, technology and risk management. Acharya told Inc42 that the funding would help Seeds Fincap deepen its presence and invest in its technology and its people.
Seeds Fincap is aiming to reach ₹1,000 crore (about $104m) in AUM by March 2027, an increase of roughly 38% on its August 2026 level, while keeping its focus on credit assessment and the quality of its loan book.
The funding so far
The Series B follows a ₹50 crore (about $5.5m) round last year that was led by Z47 and Lok Capital, according to CXO Digital Pulse. In July 2024 the company raised a Series A of more than $8.5m, led by Lok Capital and Matrix Partners India, the firm that has since renamed itself Z47.
Both of those earlier lead investors returned for the new round. Neither the company nor the reports gave a total for the amount Seeds Fincap has raised to date, though the three rounds reported since 2024 add up to more than $24m.
The Series B is roughly twice the size of last year's ₹50 crore round. Seeds Fincap has now raised money in each of the past three years. The company did not say how many branches or new markets it plans to add.
Who invested
The Michael & Susan Dell Foundation led the round. Norinchukin Capital and Alteria Capital invested in Seeds Fincap for the first time. The size of each investor's cheque was not disclosed.
Company website: seedsfincap.com