SMBC Asia Rising Fund (ARF), the growth-stage investment fund backed by Sumitomo Mitsui Banking Corporation (SMBC), has announced follow-on investments worth $12–15 million in its portfolio companies Easy Home Finance (EHF), Vayana, and DPDzero. The fresh investments reaffirm the fund’s confidence in the three fintech companies as they continue expanding their operations and strengthening India’s financial ecosystem.
The latest investments follow successful fundraising rounds completed by each of the portfolio companies over the past year, highlighting their growth trajectory and increasing investor confidence.
Earlier this year, Easy Home Finance (EHF) secured $30 million in a Series funding round to accelerate the expansion of its affordable housing finance business. With the latest raise, the company’s total funding has reached $80 million, positioning it to serve a larger base of homebuyers across India.
Meanwhile, trade finance platform Vayana attracted follow-on primary and secondary investments from its existing shareholders after obtaining its Non-Banking Financial Company (NBFC) licence last year. The company had previously raised $20.5 million in 2024 through a funding round led by SMBC Asia Rising Fund.
Similarly, Bengaluru-based fintech startup DPDzero, which specializes in AI-driven debt collection, raised $7 million in August last year in a funding round led by Japanese venture capital firm GMO Venture Partners. The startup continues to develop artificial intelligence-powered solutions that help financial institutions improve debt recovery and collections efficiency.
Sumitomo Mitsui Banking Corporation (SMBC) and venture capital firm Incubate Fund jointly launched the Singapore-based SMBC Asia Rising Fund in 2023. The corporate venture fund operates with a 10-year investment horizon and manages a corpus of $200 million.
The fund primarily invests in high-growth Asian fintech companies operating across sectors such as digital lending, payments, supply chain finance, banking-as-a-service (BaaS), digital assets, and financial infrastructure.
Commenting on the latest investments, Rajeev Ranka, Partner – India Investments, SMBC Asia Rising Fund, said, “Our follow-on investments reflect a simple principle: we increase conviction where we see sustained execution and expanding opportunity. Each of these companies has evolved meaningfully since our initial investment and is building capabilities that go beyond technology to become foundational enablers of India’s financial ecosystem.”
He further added, “Whether it is expanding access to housing finance, strengthening trade credit infrastructure, or modernising collections, these businesses are solving real structural challenges at scale.”
The fund also stated that it expects India’s next phase of financial sector growth to be driven by institutions and technology platforms that expand access to credit while improving capital efficiency across the financial ecosystem.
Furthermore, SMBC Asia Rising Fund noted that all three companies have demonstrated disciplined business growth, stronger operational performance, and improving operating leverage since receiving their initial investments. These developments have strengthened the fund’s conviction in supporting the companies through additional capital.
The latest follow-on investments also reflect the growing maturity of India’s fintech ecosystem, where investors are increasingly backing startups with proven business models, scalable technology platforms, and measurable financial performance rather than focusing solely on early-stage growth.
As India’s digital financial services market continues to expand, companies such as Easy Home Finance, Vayana, and DPDzero are playing an increasingly important role in improving access to credit, modernizing financial infrastructure, and enhancing operational efficiency for businesses and financial institutions. Through its continued backing, SMBC Asia Rising Fund aims to support these companies as they scale their operations and contribute to the next phase of India’s fintech growth story.
