Finodaya Capital, a Madhya Pradesh-based non-banking financial company (NBFC), has raised $2.5 million in a seed funding round led by White Venture Capital, with additional participation from Gemba Capital and a group of strategic angel investors. The fresh capital values the company at approximately ₹50 crore ($5.87 million) post-money, according to industry sources.
Empowering Microenterprises Through Secured Lending
With a focus on providing microloans against property, Finodaya Capital aims to serve micro and nano enterprises across India. These are often underserved segments lacking access to formal credit. By offering secured lending products, the company intends to help these businesses build financial credibility and move toward greater economic inclusion.
Finodaya recently received its NBFC license from the Reserve Bank of India (RBI) on April 11, enabling it to operate independently and scale its offerings nationwide.
Phygital Model for Better Credit Access
Finodaya’s approach combines digital innovation with physical branch operations, adopting a phygital model for more efficient and inclusive financial services. This hybrid approach will allow for:
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Streamlined credit underwriting
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Faster loan disbursal
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Improved customer service, especially in semi-urban and rural areas
Strong Founding Team with Banking Expertise
The company was co-founded by Lokendra Tomar, Abhitabh Dixit, and Neeraj Biyani—seasoned professionals with previous leadership roles at ICICI Bank. Their collective expertise in banking and credit risk management plays a crucial role in shaping Finodaya’s strategy and product offerings.
Expansion Plans and Loan Targets
In the near term, Finodaya plans to:
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Launch 15 new branches in Madhya Pradesh over the next six months
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Disburse loans worth ₹50–100 crore by 2026
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Build a portfolio that supports underserved entrepreneurs in tier-2 and tier-3 cities
The startup has previously operated as a business correspondent for Utkarsh Small Finance Bank and is now exploring co-lending partnerships with other financial institutions to expand its footprint and improve access to affordable credit.
India’s Growing Focus on Property-Backed Lending
Finodaya’s funding round comes at a time when India’s fintech and NBFC sectors are rapidly digitizing, particularly in the domain of property-backed loans. The demand for collateral-based lending solutions is rising, and NBFCs like Finodaya are positioned to bridge the gap between formal credit and small-scale borrowers.