Finodaya Capital, a non-banking financial company (NBFC) headquartered in Madhya Pradesh, has raised $2.5 million in a seed funding round led by White Venture Capital. The funding round, which values the startup at a post-money valuation of ₹50 crore, also saw participation from Gemba Capital and a group of angel investors.
The Reserve Bank of India granted Finodaya its NBFC license on April 11. The company is focused on offering microloans secured against property, specifically catering to small businesses and microenterprises across the country. It will operate using a hybrid “phygital” model—blending digital technologies with physical branches to streamline credit evaluation and loan disbursement.
Founded by ex-ICICI Bank professionals Lokendra Tomar, Abhitabh Dixit, and Neeraj Biyani, Finodaya Capital is on a mission to provide accessible, secured credit to micro and nano enterprises, helping them integrate into the formal financial system.
Over the next six months, the company plans to open 15 branches across Madhya Pradesh. By 2026, it aims to disburse loans totaling ₹50–100 crore. Prior to obtaining its NBFC license, Finodaya operated through a business correspondent arrangement with Utkarsh Small Finance Bank and is now exploring co-lending partnerships with other financial institutions. This capital raise aligns with the growing trend of digital transformation in property-backed lending in India.
Finodaya Capital’s $2.5 million seed funding marks a significant milestone as it transitions from a partner-led model to a fully licensed NBFC. With a strong founding team, clear focus on secured microloans, and a hybrid operational model, the company is well-positioned to bridge the credit gap for underserved micro and nano enterprises in India. As it scales its presence and partnerships, Finodaya aims to play a key role in the formalisation and digitisation of small business lending across the country.
