Capital 2B and Capria Ventures have contributed $3.4 million, or Rs 28.6 crore, to Supermoney, a digital lending platform that focuses on small and medium-sized businesses.
Unitus Ventures, an early-stage investor, contributed $1 million (roughly Rs. 7 crore) to the startup in February 2020.
According to a press release from Supermoney, the money will be utilized to increase the platform’s growth and payouts.
Supermoney is a digital platform that was founded in 2018 by Nikhil Banerjee. It offers businesses working capital solutions by providing tailored finance and payment options that are especially tailored to their supply chain.
The Mumbai-based startup claims to have partnered with well-known companies in industries including steel, electronics, pharmaceuticals, auto parts, and automotive.
With 30,000 retailers/dealers, more than 50 anchors, and more than 500 distributors on the platform throughout India, Supermoney operates in more than 40 locations.
