Get All Access for $5/mo

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.

Company handout

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.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Growing a Business

How to Spot Trends and Anticipate Market Shifts Before Your Competition

Discover how to identify disruptive trends before your competitors by mastering the art of anticipating market shifts. Learn strategies for staying ahead and gaining a competitive edge in business.

Business News

Macy's CEO Confirms Employee Made Accounting Errors Worth $151 Million, Though Not for 'Personal Gain'

The company announced its third-quarter earnings Wednesday after a delay.

Starting a Business

10 Traits of Successful Entrepreneurs That Investors Love (Even If They Seem Like Jerks)

This article explores a thought-provoking question: Why do many successful entrepreneurs exhibit traits that might label them as "jerks?"