SME lender Finodaya Capital raises $2.5 million led by White Venture Capital
25 Apr 2025, 05:16 PMFinodaya will operate on a hybrid “phygital” model, blending digital services with a physical branch presence to streamline loan disbursement and underwriting.
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Madhya Pradesh-based NBFC Finodaya Capital has raised $2.5 million in a seed funding round led by White Venture Capital, with additional backing from Gemba Capital and several angel investors.
The funding round values the company at Rs 50 crore post-investment, as reported by the Economic Times.
The company, which received its NBFC license from the Reserve Bank of India on April 11, aims to offer microloans backed by property to small and micro enterprises across India.
Previously operating through a partnership with Utkarsh Small Finance Bank, Finodaya is now exploring co-lending collaborations with additional institutions. This funding supports its broader strategy to digitize and scale up property-backed lending in India.
Finodaya will operate on a hybrid “phygital” model, blending digital services with a physical branch presence to streamline loan disbursement and underwriting.
Founded by ex-ICICI Bank executives Lokendra Tomar, Abhitabh Dixit, and Neeraj Biyani, the company plans to launch 15 branches in Madhya Pradesh within next six months and is targeting loan disbursements between Rs 50-Rs 100 crore by 2026.