ENA MSME 2024-06-20 14:16:15 <p><span style="font-size:14px"><strong>New Delhi, Jun 20 (KNN)</strong> Supermoney, a digital lending platform focused on small and medium enterprises (SMEs), has raised USD 3.4 million in a recent funding round. The investment was led by Capital 2B and Capria Ventures.</span></p> <p><span style="font-size:14px">The start-up, founded in 2018, plans to utilise the newly acquired funds to accelerate loan disbursement activities and enhance operational efficiencies through technological advancements.</span></p> <p><span style="font-size:14px">Supermoney specialises in tailoring supply chain finance solutions for its enterprise partners spanning various sectors, including electronics, pharmaceuticals, steel, auto parts, and automotive.</span></p> <p><span style="font-size:14px">With operations in over 40 locations across India, Supermoney has established a robust network comprising over 30,000 retailers and dealers, more than 50 anchor companies, and over 500 distributors on its platform.</span></p> <p><span style="font-size:14px">The company aims to reach 500,000 micro, small and medium enterprises (MSMEs) within the next two years and drive invoicing volumes exceeding USD 5 billion through its platform.</span></p> <p><span style="font-size:14px"> We are delighted to secure this investment, marking a pivotal moment in our journey, said Nikhil Banerjee, Co-founder and Director, Supermoney.</span></p> <p><span style="font-size:14px">He further highlighted, We are seizing an USD 800-billion domestic market opportunity, which has been underserved by traditional banks and non-banking financial companies (NBFCs). </span></p> <p><span style="font-size:14px">Amit Behl, Partner, Capital2B, commented on the investment, stating, Business in India operates on credit, and as the economy powers towards USD 5 trillion-plus, supply chain financing will continue to witness innovation and digitisation. </span></p> <p><span style="font-size:14px">Surya Mantha, Managing Partner, Capria Ventures, added, The Supermoney team has demonstrated excellent execution with impressive growth despite operating in a fragmented market.</span></p> <p><span style="font-size:14px">He expressed, Supermoney is poised for exponential growth in the coming years, leveraging technology to unlock a massive market opportunity and tackle the credit financing problem plaguing millions of small businesses across the country. </span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38282 https://knnindia.co.in/news/newsdetails/msme/sme-digital-lender-supermoney-raises-usd-34-mn 2024-06-20 14:16:15 knnindia.co.in