Sugmya Finance Raises INR 21 Crore from Existing Investors to Fuel Next Phase of Growth
A robust capital base will enable Sugmya to attract additional debt funding and forge strategic partnerships, including new BC (Business Correspondent) and co-lending alliances.
Co-founded in 2019 by Vikas Singh and Brajmohan Singh, Sugmya Finance has so far raised over INR 120 crore in equity capital from professional investors, micro VCs, and HNI/UHNIs.
Operating through a network of 200+ branches across India, Sugmya delivers a comprehensive suite of financial services to underserved borrowers in semi-urban, urban, and Tier-3 and below geographies. Since 2020, the company has served more than 2 lakh customers and disbursed loans amounting to over INR 1,700 crore. In addition to its 50+ lending partners, Sugmya has been recently onboarded by two Small Finance Banks as BC service partners to further bridge the credit access gap.
Commenting on the fundraise, Vikas Singh, CEO and Co-Founder of Sugmya Finance, said:
'This year's strong monsoon and the upcoming festive season provide a timely growth opportunity. With our enhanced capital position, we are well-placed to tap high-quality demand emerging from Tier-3 and other underserved markets. We remain committed to leveraging fintech innovation to drive inclusive financial access across India.'
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