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Rupeeflo raises $1 Mn from Piper Serica

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Rupeeflo raises $1 Mn from Piper Serica
Medial

Rupeeflo raises $1 Mn from Piper Serica Fintech startup Rupeeflo has raised $1 million in funding in a pre-seed round led by Piper Serica Angel Fund. Fintech veterans including Ravi Shankar (co-founder of Active AI), Kishore Natarajan, and Kedar Kulkarni (co-founder of Hyperverge) also participated in the maiden round. Rupeeflo will use the funding to roll out a full-stack NRI investment platform, introduce instant UPI access, and expand its global presence. Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo streamlines banking and investing for NRIs in India. Starting with the U.S. and U.K., it aims to expand across global NRI hubs. With Rupeeflo, NRIs can now digitally apply for an NRE/NRO account in less than 10 minutes and have easy and paperless access to stock markets, mutual funds, and index funds without regulatory headaches. โ€œWe see this as one of the biggest untapped opportunities in fintech. In the USA alone, NRIs have over $300 billion in low-yield savings overseas because investing in India has been too complex. We are fixing the problem so that they can participate in India's future instead of just watching from the sidelines,โ€ said Ashish Jha. Piper Serica is an asset manager investing in Indiaโ€™s public and private markets. It manages a SEBI-registered PMS, advises a Mauritius-based offshore fund, and runs the Piper Serica Angel Fund for early-stage startups, overseeing over Rs 1,000 crore in assets.

FincFriends closes $11.5 Mn debt funding round

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FincFriends closes $11.5 Mn debt funding round
Medial

FincFriends, a non-banking financial company (NBFC), has secured Rs 98.5 crore ($11.5 million) in debt funding during Q4 FY25. The funding round includes Rs 54.5 crore raised from NBFCs and Rs 44 crore via Non-Convertible Debentures (NCDs). It saw the participation of investors such as IBL Finance, Incred Financial Services, Real Touch Finance, Shine Star Build-Cap, and Western Capital Advisors Private Limited. This funding aims at scaling its reach, operations and introducing new personal credit offerings tailored to the underserved borrowers with limited access to formal financial services, FincFriends said in a press release. FincFriends says that RupeeRedee plays a pivotal role in advancing credit access and creating a financially inclusive ecosystem. With state-of-the-art technology and data-driven insights, it continues to bridge the credit gap for underserved segments. Moreover, with the financial expansion of its lending partner FincFriends, it further plans to empower the borrowers and scale digital innovation in the lending ecosystem. โ€œThis funding marks a strategic milestone in our journey to enable accessibility of responsible credit across India. With the valuable trust of our investors, we are positioning our brand to deepen our reach, strengthen fintech infrastructure and develop personalised credit solutions to address the financial realities of underserved communities,โ€ said Artem Andreev, CEO of FincFriends. Launched in 2017, FincFriends is dedicated to delivering financing solutions and providing loans to end customers through a completely digital and secure process. It focuses on ensuring that individuals can easily access hassle-free cash to manage unexpected financial expenses.

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