Quona Capital leads fresh funding round in digital lender SMEcorner

SMECorner, a microlending platform for small and medium businesses, has raised Rs 90 crore ($12.8 million) in debt and equity funding.

Venture capital firm Quona Capital led the round with an equity investment of Rs 35 crore, SMECorner said in a statement. Existing investors including Accion Venture Lab put in the remaining amount.

Quona made the investment out of the Accion Frontier Inclusion Fund, which is anchored by impact investor Accion International. Quona was earlier called the Frontier Investment Group, which was part of Accion. It is now a separate entity. The fund had last year backed non-bank lender

NeoGrowth Credit, which operates in the same segment as SMECorner.

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