Shivalik Small Finance Bank (SSFB) has secured ₹100 crore in equity funding from a group of investors led by SMBC Asia Rising Fund, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC). Existing investors Accel, Quona Capital, Lightspeed, and Sorin Investments also participated in this funding round.
The bank plans to utilize these funds to strengthen its technology infrastructure, expand its workforce across critical functions such as product development, engineering, and operations, and enhance its Banking-as-a-Service (BaaS) offerings. This strategic move aims to support SSFB’s goal of building a digital-first retail bank focused on serving India’s underserved MSME and retail segments.