SMBC Asia Rising Fund (SMBC ARF), the venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC), has made three follow-on investments in the Indian financial services sector.
The Singapore-headquartered fund has parked about $12-15 million in its existing Indian fintech portfolio companies, namely Easy Home Finance, Vayana, and DPDzero.
The fund said the investments are aimed at backing companies building infrastructure for India’s financial services sector, including platforms focused on lending, capital efficiency, and financial inclusion.
“Our follow-on investments reflect a simple principle: we increase conviction where we see sustained execution and expanding opportunity,” said Rajeev Ranka, Partner, India Investments at SMBC Asia Rising Fund, in a media statement.
“…Whether it is expanding access to housing finance, strengthening trade credit infrastructure, or modernising collections, these businesses are solving real structural challenges at scale,” he added.
The latest investments signal SMBC ARF’s continued focus on India, where it has backed several fintech startups amidst growing adoption of digital financial services.
Its other portfolio companies include Aerem Solutions, a full-stack platform for distributed solar in India, Olyv, a digital lending startup focused on underserved borrowers, and M2P Fintech, which provides banking infrastructure and embedded finance solutions, among others.
