Funding•Fintech

Rupeeflo Secures $1 Million in Pre-Seed Funding from Piper Serica

A group photo of three co-founders of Rupeeflo, all wearing white polo shirts with the company logo. The background is a mix of yellow and blue with the "Rupeeflo" logo prominently displayed. The co-founders have name tags: Ashish Jha (Co-Founder, COO), Manav Bharambe (Co-Founder, CTO), and Dharmendra Maurya (Co-Founder, CEO). Manav Bharambe’s image is in black and white, while the others are in full color.
By
ES
2 min read

Rupeeflo, a fintech startup focused on empowering Non-Resident Indians (NRIs) with seamless access to India's financial markets, has successfully raised $1 million in a pre-seed funding round led by Piper Serica Angel Fund. The investment aims to eliminate long-standing financial barriers NRIs face when banking and investing in India.

Company Overview

Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo simplifies the process of opening NRE/NRO accounts, investing in Indian markets, and making cross-border transactions. The platform offers a completely digital and paperless experience, allowing NRIs to start investing in under 10 minutes.

Funding Utilization

The newly raised capital will be deployed to:

  • Develop a full-scale NRI investment platform.
  • Introduce instant UPI access for seamless transactions.
  • Expand operations globally, starting with the U.S. and U.K.

Founders' Vision

Dharmendra Maurya, Co-founder and CEO, emphasized the importance of Rupeeflo’s mission:
"For decades, NRIs have contributed to India’s economy but faced regulatory hurdles in financial access. Rupeeflo eliminates these barriers, making investments easier and more inclusive."

Ashish Jha, Co-founder, highlighted the market opportunity:
"NRIs hold over $300 billion in low-yield savings abroad. Rupeeflo ensures they can invest in India's growth story without complexity."

Investor's Perspective

Abhay Agarwal, Founder and Fund Manager at Piper Serica Angel Fund, praised Rupeeflo’s approach:
"By digitizing and streamlining NRI investments, Rupeeflo is creating a significant opportunity for both investors and India's economy. We are excited to support this journey."

Our Opinion on the News

Rupeeflo’s funding success reflects increasing fintech innovation targeting NRIs. By addressing regulatory complexities, the startup is poised for rapid growth. Its focus on digital solutions aligns well with global fintech trends.

Conclusion

As India’s fintech sector evolves, Rupeeflo’s expansion will be pivotal in integrating NRIs into the country’s financial ecosystem. This funding round marks a major milestone in that journey.