Gurugram, India | 12th August, 2025
Z47 is doubling down on Seeds Fincap with a ₹50 crore Pre-Series B investment, alongside Lok Capital, with new investors Norinchukin Capital and Alteria Capital joining the cap table.
Seeds Fincap’s Founders Avishek Sarkar and Subhash Chandra Acharya.
At Z47, we invest in founders tackling India’s most urgent nation-building challenges with clarity, empathy, and execution. Subhash Chandra Acharya and Avishek Sarkar are those builders. With Seeds, they’re addressing the ₹30 trillion MSME credit gap with sharp underwriting, tech-led operations, and a deep understanding of the small business owner’s reality.
The Pre-Series B round follows Seeds’ Series A, announced in July 2024.
Seeds Fincap at a glance:
- Founded in 2021 by Subhash Chandra Acharya and Avishek Sarkar, closed FY25 profitably
- 120 branches across 8 high-growth states: Madhya Pradesh, Uttar Pradesh, Gujarat, Uttarakhand, Punjab, Bihar, Rajasthan, and Haryana
- ₹1,000+ crore disbursed to over 50,000 MSMEs,
- Cash flow-based underwriting, with ticket sizes from ₹50,000 to ₹10 lakh
- Fully tech-enabled sourcing-to-collections model
- ₹500cr in AUM, Cycle-tested gross NPA of 2%
This fresh capital will power Seeds’ next chapter: scaling its portfolio and product suite, expanding its geographic footprint into underserved regions, and strengthening its technology and risk infrastructure.
In the words of Subhash Chandra Acharya, Managing Director & Co-Founder, Seeds Fincap:
“We view MSME financing not merely as lending but as a catalyst for entrepreneurship and economic empowerment. By leveraging advanced analytics and end-to-end digital processes, we enable MSMEs to access the right capital, at the right time. This funding is a critical milestone in expanding that impact.”
Avishek Sarkar, Co-Founder, Seeds Fincap, added: “Building for the MSME segment requires more than capital—it demands contextual intelligence, operational agility, and deep empathy for the entrepreneur’s journey. At Seeds, we’re combining financial discipline with technology-led execution to design credit solutions that are not only accessible but truly transformative. This investment will enable us to amplify our mission—supporting the ambitions of small business owners who are shaping the future of India’s economy.”
Speaking about the Seeds round, Anish Patil, Vice President, Z47, said:
“We are strong believers in the MSME credit opportunity in India. Seeds Fincap’s deep focus on tech-enabled field operations, strong hold on credit underwriting coupled with rigorous portfolio monitoring and diversified presence has helped them deliver superlative asset quality in a testing market. The company has demonstrated consistent execution across metrics and we are excited to double-down and deepen our partnership. We welcome Norinchukin and Alteria to the cap-table and wish Subhash and Avishek godspeed for the next phase of growth.”
Rajat Bansal, Managing Director at Lok Capital, added:
“Seeds is delivering the rare combination of high-quality credit, deep market reach, and real impact. In a segment often plagued by high defaults or poor customer understanding, Seeds has demonstrated strong NPA control and consistent execution across geographies. Their ability to bring underserved MSMEs into the fold of formal finance—sustainably and at scale—is what makes them stand out. We’re excited to continue partnering with them on this journey.”
Hiroki Kawabata, Director at Norinchukin Capital, added:
“At Norinchukin, we look for partners who can create real-world impact with lasting value, and Seeds Fincap embodies that spirit. Their work with underserved MSMEs reflects not just business potential but a genuine commitment to financial inclusion. What stands out is their ability to stay close to the ground while building scalable, tech-enabled systems. Subhash, Avishek, and the team are driving meaningful change in the sector, and we’re proud to support their vision of empowering small entrepreneurs across India.”
Ankit Agarwal, Managing Partner at Alteria Capital, added:
“Seeds Fincap has taken a thoughtful and mission-driven approach to solving the MSME credit gap. What we really value is their deep understanding of customer needs, combined with the discipline to scale responsibly. They’re not just building a lending business, they’re building trust at the grassroots level, one relationship at a time. The team’s ability to blend strong systems, local intelligence, and executional focus is impressive. We’re excited to be part of this journey and support them as they grow into a leading force in inclusive finance.”
With this capital raise, Seeds will invest in expanding its footprint into new and underserved regions, strengthening its technology and risk infrastructure, and further accelerate its mission.
With capital, conviction, and context, Seeds is rewriting the rules of MSME lending—one small business at a time. Z47 wishes Subhash, Avishek and the Seeds team the very best.
About Seeds Fincap Pvt. Ltd
Seeds Fincap Pvt. Ltd. is a Gurugram based Non-Banking Financial Company (NBFC) dedicated to promoting financial inclusion and supporting the growth of MSMEs across India. By providing tailored financial solutions and leveraging technology, Seeds Fincap empowers small businesses to overcome financial challenges and achieve sustainable growth. With a focus on promoting the local economy and fostering entrepreneurship, Seeds Fincap is committed to making a positive impact on the communities it serves.
About Z47
Founded in 2006, Z47 is an investment Firm with more than 150 investments till date and an AUM of over $3.5 billion. Guided by a ‘founders first’ philosophy, Z47 is committed to backing missionary founders leading India to its goal of becoming a developed nation by 2047, prioritizing founders over markets.
Z47’s focus sectors include Financial Services, Consumer, B2B, Advanced Manufacturing and Enterprise AI amongst others. We are proud partners to several Financial Services companies; select ones include Jupiter, OneCard, Oxyzo, and Scapia. Other select investments include Dailyhunt, Five Star Business Finance, OfBusiness, Ola, Ola Electric, and Razorpay.
Z47 has offices in Mumbai, Delhi, Bengaluru and GIFT City. For more information, visit www.z47.com or write to newsroom@z47.com.
For more information, please contact: newsroom@z47.com
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