A digital lending platform focused on startups, Supermoney has elevated $3.4 million (approximately Rs.28.6 crore) in Series A funding round from Capria Ventures and Capital 2B.

During the month of February 2020, the digital lender has pocketed $1 million (approximately Rs. 7 crore) from the prominent early-stage financial backer Unitus Ventures.

According to the press release disclosed by the startup, the fresh funds raised in the funding round will be utilized to spur up the growth and development of payments into the platform.

Established in the year 2028 by Nikhil Banerjee, Supermoney is an ingenious and inventive digital lending platform offers accessible financial solutions for diverse businesses by providing them with a personalized payment and capital solutions which are particularly developed for their supply chain and objectives.

As per the official statement from the startup based in Mumbai, it has fostered distinctive collaborations and partnerships with key brands across various sectors such as steel, auto parts, automotive, electronics and pharmaceuticals.

Functioning in more than 40 locations, Supermoney has nearly 30, 0000 retailers and dealers, 50+ anchors and more than 500 distributers across India on its platform.

In the other hand, Alyve Health, the fastest growing health-plan-tech start-up also secured $5.5 million in its Series A funding round directed by Axilor Ventures. The round also saw participation from its existing investor 1Crowd Fund and a heathtech-focused fund Inhealth Ventures.

In addition to this, the startup has bagged venture debt fund from Trifecta Capital. The company stated that it will utilize the raised capital to enhance the platform, hiring, operational expansion, services amplification and rise the engagement among members.