December 22, 2024
Startup Updates

QuiD Cash Secures $4.5 Million in Pre-Series A Funding to Expand Supply Chain Fintech Solutions

QuiD Cash, a fintech startup revolutionizing supply chain finance, has successfully raised $4.5 million (approximately Rs 38.23 crore) in its pre-Series A round.

The investment was led by a group of angel investors, including Piyush Jain, along with existing backer MINTCAP.

The company plans to utilize the funds for technology enhancements and scaling its operations. QuiD Cash recently launched QuiD Capital, an NBFC aimed at facilitating invoice financing, particularly in anchor-led models.

Founded by Subhash Gupta and Vikram AG, QuiD Cash provides a B2B platform delivering financial solutions to industries like FMCG, automotive, pharmaceuticals, and agriculture. With over 8,000 users and more than 20 major partners, the startup is processing transactions worth between Rs 50 crore and Rs 250 crore each month. Looking ahead, QuiD Cash plans to expand its workforce to 50 employees and onboard 5 lakh retailers over the next two years