Supply chain fintech startup QuiD Cash has raised $4.5 million (approximately Rs 38.23 crore) in its pre-Series A funding round. The investment saw participation from several angel investors, including Piyush Jain, and existing backer MINTCAP.
Earlier in 2024, the company had secured Rs 5 crore in a pre-seed funding round led by Mint Cap Enterprises and Stone Park Capital.
The fresh capital infusion will be directed toward technology upgrades and business expansion. Alongside the funding, the startup announced the launch of QuiD Capital, a Non-Banking Financial Company (NBFC) aimed at enabling anchor-led invoice financing. This move is expected to streamline financing processes within its supply chain ecosystem.
Founded by Subhash Gupta and Vikram AG, QuiD Cash offers technology-driven financial solutions via its B2B supply chain platform. The startup caters to 8,000 users and collaborates with over 20 prominent companies across industries such as FMCG, automotive, pharmaceuticals, and agriculture. The businesses on its platform manage monthly transactions ranging between Rs 50 crore and Rs 250 crore.
With a current workforce of 40 employees, the company plans to expand its team to 50 members next year. Additionally, QuiD Cash has set an ambitious goal of onboarding 5 lakh retailers over the next two years, further solidifying its presence in the supply chain financing space.
By leveraging advanced technology and innovative financial solutions, QuiD Cash is positioning itself as a key player in the fintech landscape, facilitating seamless transactions and growth opportunities for businesses across India.
