Supermoney raises $3.4 Mn in Series A round

Supermoney, an SME-focused digital lending platform, has raised $3.4 million Rs 28.6 crore in its Series A round from Capital 2B and Capria Ventures. 

In February 2020, the startup had raised $1 million (Rs 7 crore) from early-stage investor Unitus Ventures.

The proceeds will be used to ramp up the platform's growth and expand disbursements, Supermoney said in a press release.

Founded in 2018 by Nikhil Banerjee, Supermoney is a digital platform that provides working capital solutions to businesses by offering customized payment and finance solutions designed specifically for their supply chain.

According to the Mumbai-based startup, it has established partnerships with major brands across sectors such as electronics, pharmaceuticals, steel, auto parts, and automotive.

Operating in over 40 locations, Supermoney has 30,000 retailers/dealers, over 50 anchors and more than 500 distributors across India on the platform.