Private Equity PE-VC Fund Investments
Rural-focused fintech platform Rugr raises $5-M led by Vikasa India EIF I Fund
Source RUGR Fintech (opens in a new tab)Indian Startup Times (opens in a new tab)
Bengaluru-headquartered rural-focused fintech platform RUGR Fintech has raised USD 5 million in its pre-Series A funding round from the Vikasa India EIF I Fund, a Mauritius-based collective investment scheme.The company has raised funding through the issue of compulsorily convertible preference shares (CCPS) at a post-money valuation of USD 25 million.Founded in 2022 by KV Arangasamy, RUGR Fintech offers a digital platform that enables banks and financial institutions to deliver banking solutions across underserved markets, supporting financial inclusion at scale.The funding proceeds will be used to scale its technology infrastructure, pursue strategic investments, and bolster working capital.