The company said it would use the funds to scale its presence and increase employee headcount across technology, product, customer success and business development. The company leverages its proprietary technology platform,MicroBill, which tokenises invoices from these SMEs and helps them receive working capital credit from banks or non-banking finance companies (NBFCs) against these receivables. Moving forward, the company is also looking to launch various other credit products as well as build software layers to help SMEs digitise their billing and reconciliation processes. Bengaluru: Supply-chain financing provider Nakad said on Wednesday it has raised $7 million as a part of its seed funding round, co-led by Accel and Matrix Partners India. Founded in January 2022 by Ujwal Kalra, Sambhav Jain and Avinash Uttav, Nakad is a deep-tier supply chain finance startup which provides working capital credit to small and medium enterprise (SME) suppliers of corporate vendors.