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 at a post-money valuation of ₹50 crore.
Several angel investors and Gemba Capital, an early-stage investor, also participated in the round.
The funds raised will be used to expand its operations, strengthen credit assessment capabilities, and accelerate financial inclusion by offering fair and transparent loan solutions to micro and nano entrepreneurs looking to formalize their businesses.
“Finodaya, which was granted its NBFC licence by the Reserve Bank of India on 11 April, plans to offer micro loans against property to small businesses and micro enterprises across India. The company will adopt a phygital model, combining digital infrastructure with a physical branch network, to underwrite and disburse secured credit,” said cofounder Lokendra Tomar.
“Many micro and nano enterprises are trapped in cycles of high-cost borrowing from local moneylenders. We aim to break that pattern by providing fair and adequate financing to help them grow. More importantly, we’re enabling their transition into the formal financial system—by offering the right support to strengthen their credit profile, making them ready for the next phase of their growth,” he added.
Founded by Lokendra Tomar, Abhitabh Dixit, and Neeraj Biyani, Finodaya is focused on delivering secured loans against property to micro and small enterprises. The company plans to deploy a hybrid “phygital” model—merging the reach of digital platforms with the trust of on-ground branch networks—to streamline loan underwriting and disbursement processes.
Finodaya received its official NBFC license from the Reserve Bank of India on April 11, 2025. The company plans to launch 15 branches across Madhya Pradesh within the next six months and is targeting loan disbursements between ₹50 to ₹100 crore by 2026.
Previously, Finodaya operated via a business correspondent partnership with Utkarsh Small Finance Bank. With its NBFC license in hand, the firm is now exploring co-lending tie-ups with other financial institutions to broaden its footprint.
