PE-VC Fund Investments
Rural-focused fintech platform Rugr raises $5-M led by Vikasa India EIF I Fund
Indian Startup Times RUGR Fintech
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.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
