Finodaya Capital, a Madhya Pradesh-based non-banking financial company (NBFC), has raised $2.5 million in seed funding to scale its mission of providing accessible microloans to India’s underserved small business segment. The funding round was led by White Venture Capital, with participation from Gemba Capital and a group of angel investors.

Founded by former ICICI Bank veterans Lokendra Tomar, Abhitabh Dixit, and Neeraj Biyani, Finodaya is focused on delivering secured loans against property to micro and small enterprises. The company plans to deploy a hybrid “phygital” model—merging the reach of digital platforms with the trust of on-ground branch networks—to streamline loan underwriting and disbursement processes.

Finodaya received its official NBFC license from the Reserve Bank of India on April 11, 2025. Building on this milestone, the company plans to launch 15 branches across Madhya Pradesh within the next six months, and is targeting loan disbursements between ₹50 to ₹100 crore by 2026.

Previously, Finodaya operated via a business correspondent partnership with Utkarsh Small Finance Bank. With its NBFC license in hand, the firm is now exploring co-lending tie-ups with other financial institutions to broaden its footprint.

The newly acquired funds will be directed toward expanding operations, strengthening credit assessment capabilities, and accelerating financial inclusion by offering fair and transparent loan solutions to micro and nano entrepreneurs looking to formalize their businesses.