QuiD Cash, a Bangalore-based B2B supply chain digital lending platform, has raised $4.5 million in a Pre-Series A funding round. The funds include a combination of equity and lending capital, with participation from new investors and existing investor MINTCAP. This funding follows the company’s seed round in March 2024.
The startup also announced the launch of QuiD Capital, its in-house non-banking financial company (NBFC), which will focus on anchor-led invoice financing. This marks a significant step forward in QuiD Cash’s mission to streamline supply chain financing in India.
Supply Chain Financing
QuiD Cash plans to use the newly raised funds to enhance its technology and drive growth. The company aims to integrate advanced technologies like artificial intelligence (AI) and machine learning (ML) to make supply chain financing more efficient and accessible for millions of retailers.
Piyush Jain, Angel Investor and Director of Shrem Group of Companies, highlighted the potential of the sector, stating, “Supply chain finance in India is a massive and rapidly growing market. QuiD’s proprietary technology is designed to offer seamless working capital solutions to businesses, enabling their growth.”
Risk Pricing Model
One of QuiD Cash’s standout features is its unique credit and risk pricing model. According to Co-founder Vikram AG, this model uses both conventional and unconventional data points to dynamically assess and price risks. This data-driven approach, combined with the in-house NBFC, allows QuiD Cash to offer off-balance-sheet financing for anchors, covering a broad range of retailers with ease.
This innovative model not only simplifies the financing process but also ensures that businesses can access the capital they need to grow without traditional financial barriers.
Focus on Technology
Co-founder Subhash Gupta emphasized the importance of technology in QuiD Cash’s operations. The company’s flagship product, the “Pay-in” solution suite, offers suppliers the ability to “Pay Now” or “Pay Later” at the invoice level. This product also includes automated reconciliation and reporting features, making it a valuable tool for businesses.
Gupta stated, “With strong demand from the market, the funds raised will be used to invest further in technology and growth. We plan to enhance our ‘Pay-in’ solution by integrating it with suppliers’ ERP systems, providing even greater efficiency and convenience.”
The launch of QuiD Capital, the company’s NBFC, is a strategic move to address the growing demand for anchor-led invoice financing. By offering businesses a streamlined way to manage their working capital, QuiD Cash is positioning itself as a leader in India’s supply chain finance sector.
With its focus on innovation and customer-centric solutions, QuiD Cash aims to transform how businesses access and manage financial resources, making it easier for suppliers and retailers to thrive in a competitive market.
Future Plans and Vision
QuiD Cash’s vision extends beyond financing. By leveraging advanced technologies and innovative solutions, the company seeks to empower businesses across India. Its commitment to integrating AI and ML into its operations ensures that it remains at the forefront of the fintech industry.
The funds raised in this round will not only fuel QuiD Cash’s growth but also help it build a robust ecosystem for supply chain financing. With its unique offerings and strong investor backing, QuiD Cash is set to make a significant impact in the B2B fintech space.
QuiD Cash’s $4.5 million Pre-Series A funding marks a milestone in its journey to revolutionize supply chain financing. By combining cutting-edge technology, innovative financial models, and customer-focused solutions, the company is addressing the evolving needs of India’s businesses.
As QuiD Cash continues to grow and innovate, it is poised to play a crucial role in the country’s supply chain finance landscape, empowering businesses to achieve their goals with greater efficiency and ease.
