Finodaya Capital Secures $2.5 Million in Seed Funding

Madhya Pradesh-based non-banking financial company (NBFC) Finodaya Capital has successfully raised $2.5 million in its seed funding round, led by White Venture Capital. As reported by ET, this funding round values the firm at Rs 50 crore post-money, with contributions from Gemba Capital and a number of angel investors.

Finodaya Capital, which obtained its NBFC licence from the Reserve Bank of India on April 11, is focused on offering microloans secured against property to small businesses and microenterprises throughout India. The company plans to utilize a phygital model, which merges digital technologies with a physical branch network to enhance credit assessment and loan disbursement capabilities.

About Finodaya Capital

Founded by Lokendra Tomar, Abhitabh Dixit, and Neeraj Biyani—former executives at ICICI Bank—Finodaya aims to cater to micro and nano enterprises. The company’s objective is to provide access to secured credit while assisting borrowers in transitioning towards the formal financial ecosystem.

Expansion Plans and Loan Disbursement Goals

In the next six months, Finodaya plans to establish 15 branches across Madhya Pradesh, with the goal of disbursing loans worth Rs 50–100 crore by 2026.

Previously, the company operated through a business correspondent partnership with Utkarsh Small Finance Bank and is now looking into co-lending options with other financial institutions. This funding arrives at a time when broader digitisation initiatives are enhancing property-backed lending accessibility in India.