Finodaya Capital, a non-banking financial company (NBFC) based in Madhya Pradesh, has closed their $2.5 million seed funding round with Traxcn. White Venture Capital, a multi-stage investment fund focused on fintech, led the round with participation from Gemba Capital and several angel investors. The funding round increases Finodaya Capital’s post-money valuation to Rs 50 crore.

Impact private equity firm Finodaya Capital recently raised new capital. With this funding the company will accelerate its operations and further develop the region’s capacity to deliver financial services locally. White Venture Capital, as an early-stage investor, showcases enormous confidence in the capacity of Finodaya Capital to perform. It’s their creative approach to the financial sector that makes them so unique.

White Venture Capital was established by prominent figures in the fintech industry: Amrish Rau, Jitendra Gupta, and Sweta Rau. Names of Amrish Rau, first CEO of Pine Labs and Jitendra Gupta, founder and CEO of Jupiter. About the Author Sweta Rau is general partner at White Venture Capital. Both Amrish Rau and Jitendra Gupta are limited partners and advisors to the fund. In addition to her work at SVB, Sweta Rau is active as an angel investor.

White Venture Capital’s participation, alongside Gemba Capital and some angel investors, is indicative of a booming interest in NBFCs. These are the kinds of firms we want, dedicated to serving underserved markets. Finodaya Capital is looking to deploy the money on developing its technology ecosystem. This will allow the company to better serve its existing customers in Madhya Pradesh and the neighboring states.