Fintech Startup Rupid Secures Pre-Seed Funding From EvolveX The funding will fuel Rupid's mission to address the financial challenges faced by India's employed workforce
By Teena Jose •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Hyderabad based fintech startup Rupid has secured an undisclosed amount in a pre-Seed funding from EvolveX by We Founder Circle. This investment came under the 3 rd Cohort of Evolve X where they invested in 7 startups in total. The funding will fuel Rupid's mission to address the financial challenges faced by India's employed workforce and further enhance its innovative earned wage access and employee financial benefit platform.
"The infusion of capital from this funding round will empower Rupid to leverage best in technology and the client acquisition capabilities," said Gowtham Alluri, co-founder and CEO, Rupid.
As per the company, Rupid is building products that empower the financial well-being of employees apart from their flagship product of No-cost, on-demand salary access.
Co-founded by Gowtham Alluri, Karishma, and PC Varma, Rupid provides a 'Zero cost, Zero risk' solution for employees to access their earned salaries. It has also taken the initiative to address these financial burdens by forging strategic partnerships with organizations.
"Financial assistance to a large employed population is required in India and, we see a transformative shift in how Rupid addresses this with its innovative approach and strategic partnerships. The investment in Rupid aligns with our commitment to support forward-thinking solutions that have the potential to bring financial empowerment to a large segment of the employed population," said Bhawna Bhatnagar, co-founder, EvolveX.
