Finodaya Capital
Indore-based non-banking financial company (NBFC) that provides secured, property-backed loans to micro and small enterprises across India.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $2.5m | Seed | |
| Total Funding | 000k | ||
Related Content
Finodaya Capital Private Limited operates as a non-banking financial company (NBFC) with a strategic focus on providing financial services to micro, small, and nano enterprises in India, particularly in regions outside of major metropolitan centers. Incorporated on September 23, 2024, the company was founded by Lokendra Tomar, Abhitabh Dixit, and Neeraj Biyani. The founding team brings extensive experience from their previous leadership roles at ICICI Bank, which informs their mission to address the credit gap for underserved businesses.
The company's core business revolves around offering secured, purpose-based loans against property. Finodaya aims to help these small enterprises transition from high-cost, informal borrowing channels, such as local moneylenders, to the formal financial system. By providing fair and transparent financing, the company supports its clients in building a stronger credit profile, enabling their future growth. The business generates revenue through the interest and fees associated with these lending activities. Finodaya employs a "phygital" model, which combines a physical branch network with digital infrastructure. This hybrid approach leverages technology and data analytics for efficient loan underwriting and disbursement while maintaining a physical presence to build trust and relationships with customers.
A significant milestone for Finodaya was securing its NBFC license from the Reserve Bank of India on April 11, 2025. Shortly after, in April 2025, the company raised $2.5 million in a seed funding round led by White Venture Capital, with participation from Gemba Capital and several angel investors, achieving a post-money valuation of ₹50 crore. These funds are allocated to expand operations, enhance credit assessment capabilities, and accelerate financial inclusion. The company has outlined plans to open 15 branches across Madhya Pradesh and aims to disburse between ₹50 to ₹100 crore in loans by 2026. Before obtaining its own license, Finodaya operated through a business correspondent partnership with Utkarsh Small Finance Bank and is now exploring co-lending arrangements with other institutions.
Keywords: NBFC, secured loans, MSME finance, loan against property, financial inclusion, phygital model, seed funding, microenterprise lending, rural finance, Indian fintech