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

EntrackrEntrackr · 6d 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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Fintech startup QuiD Cash raises $4.5 Mn in pre-Series A round

EntrackrEntrackr · 9m 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.

InstaAstro raises $2.3 Mn led by Artha Venture Fund

EntrackrEntrackr · 1y ago
InstaAstro raises $2.3 Mn led by Artha Venture Fund
Medial

Online astrology platform InstaAstro has raised Rs 18.50 crore in its pre-Series A round led by Artha Venture Fund. The round also saw participation from LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund and Aloke Bajpai, MD & CEO of Ixigo. In November 2021, InstaAstro had raised Rs 3.2 crore in a seed round led by Artha Venture Fund along with Ramakant Sharma’s LogX Ventures. With fresh funds, InstaAstro is launching new spiritual e-commerce, daily pooja, and reiki healing services. As per the company, these offerings would deepen the platform’s user engagement and provide access to a comprehensive spiritual and astrological guidance ecosystem. Founded by Nitin Verma, InstaAstro claims to have over 200,000 monthly app installs, 50,000 minutes per day in consultations, and an ARR of $5 million. It offers horoscopes, tarot readings, and numerology in English, Hindi, and various regional languages. The startup has a total user base of over 5 million users and provided a cumulative consultation of more than 2 crore (20 million) minutes to its subscribers in FY24. The firm has 1,500 astrologers on its platform. It competes with GaneshaSpeaks, AstroTalk, Click Astro, and Bodhi. In the past 12 months, a clutch of astro and spiritual tech startups raised funds. The list included AstroTalk, Vama, Utsav, DevDham (previously DevDarshan), and Melooha. As per Entrackr’s sources, Bodhi is also in talks to raise a new round. AstroTalk had raised the largest funding ($20 million) among the astro and spiritual tech startups.

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