Supply chain fintech startup QuiD Cash has raised $4.5 million (around Rs 38.23 crore) in its pre-Series A round from a host of angel investors, including Piyush Jain and existing donor MINTCAP.
Earlier in 2024, QuiD had raised Rs 5 crore in its pre-seed funding led by Mint Cap Enterprises and Stone Park Capital.
The profits will be used for technology improvement and business growth. The company also launched QuiD Capital, an NBFC designed to facilitate anchored bill financing.
Founded by Subhash Gupta and Vikram AG, QuiD Cash provides technology-enabled financial solutions through its B2B supply chain platform. It serves approximately 8,000 users and partners from more than 20 major companies in the FMCG, automotive, pharmaceutical and agriculture industries. These companies handle transactions worth Rs 50 crore to RS 250 crore every month.
The company has a team of 40 employees and plans to expand to 50 people next year. It aims to onboard 5 lakh retailers in the next two years.
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