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    Seeds Fincap closes another round of equity infusion

    Seeds Fincap closes another round of equity infusion

    Seeds Fincap closes another round of equity infusion
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    By CNBCTV18.com  IST (Updated)

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    The recent round was funded by the existing investors along with promoters.

    Seeds Fincap Private Limited (SEEDS), a Gurugram-headquartered NBFC start-up serving MSME customers, has raised another round of equity of Rs 10 crore. The recent round was funded by the existing investors along with promoters.
    With the current round, total equity raise of the company is Rs 40 crore. Recently, SEEDS has also achieved the remarkable benchmark of Rs 100 crore. Assets under management and is well placed to achieve its growth plans.
    Along with equity, since April 2021 to August 2022, SEEDS has also raised more than Rs 100 crore of debts from multiple financial partners including private sector banks and NBFCs. SEEDS has raised debt from marquee financial institutions, such as, DCB Bank, RBL Bank, AU Small Finance Bank, InCred Financial Services Limited, Northern Arc, Vivriti Capital, Hinduja Leyland Finance etc.
    Currently, it has 22 lending partners and plans to raise further debt. The company is also in touch with marquee investors for another Rs 50-60 crore of equity raise during current financial year.
    Bootstrapped, SEEDS has also tied up with two reputed financial services companies in some pockets on a Business Correspondent model basis. Company has also started secured financing in Q1 FY23.
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