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RUGR Fintech raises $5 Mn in pre-Series A round led by Vikasa India EIF I Fund

EntrackrEntrackr · 5m ago
RUGR Fintech raises $5 Mn in pre-Series A round led by Vikasa India EIF I Fund
Medial

RUGR Fintech raises $5 Mn in pre-Series A round led by Vikasa India EIF I Fund RUGR Fintech Private Limited, a rural-focused fintech platform transforming digital payments and banking access across India, has raised $5 million in pre-Series A funding from Vikasa India EIF I Fund, a Mauritius-based collective investment scheme. The investment, made through Compulsorily Convertible Preference Shares (CCPS), values the company at a post-money equity valuation of $25 million. The proceeds will be used to expand technology infrastructure, make new strategic investments, and strengthen working capital to support RUGR’s rapid growth. Founded with a mission to empower banks, businesses, and underserved communities, RUGR Fintech offers a one-stop platform for rural banking and digital payments. Its services include merchant acquisition, real-time payments, pay-in/pay-out with escrow, and managed services. By equipping scheduled commercial banks, cooperative banks, and societies with modern tools, RUGR is enabling easy digital access for the underbanked and unbanked. Headquartered in Bengaluru, RUGR Fintech is a next-generation financial technology company focused on rural economies. Its comprehensive digital platform enables banks and financial institutions to deliver modern banking solutions across underserved markets, supporting financial inclusion at scale.

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Equirus InnovateX Fund announces final close of B2B tech fund at Rs 166 Cr

EntrackrEntrackr · 10d ago
Equirus InnovateX Fund announces final close of B2B tech fund at Rs 166 Cr
Medial

**Equirus InnovateX Fund announces final close of B2B tech fund at Rs 166 Cr** Equirus InnovateX Fund (EIF), the early stage venture arm of the Equirus Group, has announced the final close of its maiden B2B tech fund at Rs 166 crore. The fund’s first close was announced in February 2024. According to EIF, it backs seed and pre-Series A companies building in deep tech, SaaS, and fintech, typically teams that are post-product and working toward product-market fit. The fund aims to partner with founders solving hard problems with clear distribution and defensibility, and who are building for long-term sustainability. The close attracted both domestic and global investors who bring operational experience and market access in addition to capital. EIF counts a number of founders and operators among its backers, including Girish Gaitonde, M.R. Jyothy, Dhimant Bhayani, Raj P., Shankar Vailaya, and Nitin Seth. The fund is led by Krishna Jha, Sunder Nookala, and Sadhika Agarwal, founders and investors with strong operational backgrounds, who are responsible for driving investments and managing the portfolio across the fund’s focus areas. EIF states that it has deployed over one-third of the corpus, backing seven startups from Fund I, with a target portfolio of up to 15 companies. Active investments include Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL, and NeverInstall. The remaining capital is expected to be deployed over the next 12 to 18 months. Beyond capital, EIF partners with founders on enterprise access, regulatory navigation, senior hiring, and capital raising preparedness. The fund emphasises strong governance and long-term value creation. With the maiden fund now fully closed, it will focus on scaling its existing portfolio, selectively adding new companies, and deepening relationships with founders and long-term capital partners as it lays the groundwork for its next fund.

Fintech startup QuiD Cash raises $4.5 Mn in pre-Series A round

EntrackrEntrackr · 1y ago
Fintech startup QuiD Cash raises $4.5 Mn in pre-Series A round
Medial

Supply chain fintech startup QuiD Cash has raised $4.5 million (around Rs 38.23 crore) in its pre-Series A round from a host of angel investors, including Piyush Jain and existing backer MINTCAP. Earlier in 2024, QuiD had raised Rs 5 crore in its pre-seed funding led by Mint Cap Enterprises and Stone Park Capital. The proceeds will be used for technology enhancement and business growth. The firm has also launched QuiD Capital, an NBFC designed to facilitate anchor-led invoice financing. Founded by Subhash Gupta and Vikram AG, QuiD Cash provides tech-based financial solutions through its B2B supply chain platform. It serves around 8,000 users and partners with over 20 major companies in the FMCG, automotive, pharmaceuticals, and agriculture industries. These companies handle transactions worth Rs 50 crore to RS 250 crore every month. The firm operates with a team of 40 employees and plans to expand to 50 people next year. It aims to onboard 5 lakh retailers in the next two years.

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