back Back

Supermoney raises $3.4m in Series A Funding from Capital 2B, Capria Ventures

By Gloria Mathias

June 26, 2024

  • Capital 2B
  • Digital lending platform
  • Fintech Fuding Series A Funding round
Share

Supermoney, India Fintech, India Technology, Fintech Funding, Capital 2B, MSMEs, digital Lending platform, SME Lending, SME Solutions, Supermoney, an SME-focused digital lending platform that provides working capital solutions to businesses, has raised $3.4 million (INR 28.6 crore) in Series A funding from Capital 2B and Capria Ventures.

This investment round will propel Supermoney’s growth trajectory. The company aims to increase disbursement volume and leverage technology to optimize operations.

Founded in 2018, Supermoney is a digital platform that provides working capital solutions to businesses by offering customized payment and finance solutions designed specifically for their supply chain.

Amit Behl, Partner at Capital 2B, said, “Business in India works on credit, and as the economy powers to $5 trillion-plus, supply chain financing shall continue to see innovation and digitization. In Nikhil, Zafar, and Sapna, the team at Supermoney has the right blend of finance and technology experience to build not only a scalable supply chain financing platform but also a retail intelligence platform that assists manufacturers and brands with a deeper understanding of business happening at the last mile”.

Surya Mantha, Managing Partner, Capria Ventures, said, “The Supermoney team has demonstrated excellent execution with impressive growth despite operating in a fragmented market. We are pleased to have Capital 2B join us as partners in this journey. Supermoney is poised for exponential growth in the coming years, leveraging technology to unlock a massive market opportunity and tackle the credit financing problem plaguing millions of small businesses across the country.”

Nikhil Banerjee, Co-Founder & Director, Supermoney, said, “We are thrilled about securing this investment as it marks a pivotal moment in our journey. We’re seizing an $800 billion domestic market opportunity, which has so far been underserved by traditional banks and NBFCs. By partnering with industry leaders, our aim is to reach 500,000 MSMEs within the next 2 years and drive invoicing volumes to more than $5 billion on the platform.”

Previous Article

June 26, 2024

Mastercard & urpay partner to boost cross-border payment services

Read More
Next Article

June 26, 2024

GoCardless taps Celigo to accelerate indirect customer acquisition

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Capital 2B

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

4 BNPL platforms providing financial freedom to consumers in MENA

Read More

Today

Finastra & CredAble team to offer supply chain finance to banks globally

Read More

July 22, 2024

Jifiti launches ‘Tap Now, Pay Later’ to enable banks to deploy loans with ease

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024