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.
/entrackr/media/media_files/2024/10/18/zG8sbRMt5HG04yMhLVd2.webp)