Supermoney, a digital lending platform tailored for small and medium-sized enterprises (SMEs), has successfully raised $3.4 million (approximately ₹28.6 crores) in its Series A funding round. This round was led by Capital 2B and Capria Ventures.
Previously, in February 2020, Supermoney secured $1 million (around ₹7 crore) from early-stage investor Unitus Ventures. According to a company press release, this latest infusion of capital will be instrumental in accelerating the platform’s growth and expanding its disbursement capabilities.
Founded in 2018 by Nikhil Banerjee, Supermoney provides working capital solutions designed to meet the specific needs of businesses within their supply chains. The platform offers customized payment and financing options, helping businesses manage their finances more efficiently.
Based in Mumbai, Supermoney has forged partnerships with leading brands across various sectors, including electronics, pharmaceuticals, steel, auto parts, and automotive. Its extensive network includes operations in over 40 locations, 30,000 retailers and dealers, more than 50 anchor companies, and over 500 distributors across India.
The company’s innovative approach to digital lending and robust network position it as a key player in the SME finance sector, poised for significant growth and impact in the coming years.
