Supermoney Secures $3.4 Million in Series A Funding to Bolster SME Lending

Preeti Bali / 2:21 pm / June 20, 2024

Supermoney, a leading digital lending platform dedicated to small and medium-sized enterprises (SMEs), has secured $3.4 million (Rs 28.6 crore) in a Series A funding round. This significant investment, led by Capital 2B and Capria Ventures, empowers Supermoney to further accelerate its growth trajectory and expand its reach within the Indian SME landscape.

Building on a Strong Foundation with Fresh Capital

This Series A round marks a significant milestone for Supermoney, following its initial seed funding of $1 million (Rs 7 crore) secured from Unitus Ventures in February 2020. The newly acquired capital will play a pivotal role in propelling the company’s growth ambitions. Supermoney plans to utilize the funds to enhance its platform capabilities and strategically expand its disbursement reach, ultimately empowering a wider range of SMEs across India.

Tailored Working Capital Solutions for SMEs

Founded in 2018 by Nikhil Banerjee, Supermoney has established itself as a trusted provider of working capital solutions for SMEs. The company’s digital platform offers a unique approach, catering to the specific needs of its clients. Supermoney goes beyond simply providing loans; it offers customized payment and financing solutions meticulously designed to optimize each SME’s supply chain.

Strategic Partnerships and Nationwide Presence

Supermoney has cultivated a robust network of partnerships with prominent brands across diverse sectors, including electronics, pharmaceuticals, steel, auto parts, and the automotive industry as a whole. This collaborative approach ensures that Supermoney’s solutions remain relevant and address the specific challenges faced by SMEs within these vital industries.

Extensive Reach Across the Indian Market

Headquartered in Mumbai, Supermoney boasts a nationwide presence, operating in over 40 locations across India. The company’s platform has successfully onboarded over 30,000 retailers and dealers, more than 50 anchor companies, and over 500 distributors, solidifying its position as a key player within the Indian SME lending ecosystem.


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