Digital lending platform Supermoney has raised Rs 28.6 crore ($3.4 million) in a Series A funding round from Capital 2B and Capria Ventures, the company informed through a press note on June 19.

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A small and medium-size enterprise focused digital lending startup Supermoney provides working capital solutions to businesses.

Founded in 2018, Supermoney has worked along with brands across sectors including electronics, pharmaceuticals, steel, auto parts and automotive. The company revealed that through the latest spell of investment it aims to increase disbursement volume and leverage technology to optimize operations.

Amit Behl, partner at Capital 2B, said, “The team at Supermoney has the right blend of finance and technology experience to build not only a scalable supply chain financing platform but also a retail intelligence platform that assists manufacturers and brands with a deeper understanding of business happening at the last mile".

“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,” said Surya Mantha, managing partner, Capria Ventures.

Capria Ventures is a global South specialist venture capital firm investing in applied Generative AI.

Zafar Imam, co-founder & director, Supermoney said, “This investment will also facilitate the expansion of our insights engine for strategic enterprise partners. We want to expand our reach and fuel the growth of both our employees and channel partners for mutual success and prosperity.”

Currently, Supermoney claims to be operating in over 40 locations and over 30,000 retailers/dealers with more than 500 distributors across India on the platform.

Capital 2B is an early-stage tech venture capital fund with the aim to invest behind differentiated solutions spanning across fintech, consumer, healthtech, deep science and technology.