Rupeeflo, a fintech startup has raised $1 million in a pre-seed funding round led by Piper Serica Angel Fund. Fintech veterans, including Ravi Shankar (Co-Founder of Active AI), Kishore Natarajan, and Kedar Kulkarni (Co-Founder -of Hyperverge), participated in the maiden round.
The funds raised will be used to roll out a full-stack NRI investment platform, introduce instant UPI access, and expand its global presence.
“For decades, NRIs have been the backbone of India’s economy, yet the financial system has kept them at arm’s length. Opening a bank account, investing in India, or even making simple transactions has been a maze of delays, paperwork, and regulatory roadblocks. With Rupeeflo, every NRI can get started in just 10 minutes and be part of India’s growth story without friction,” said Dharmendra Maurya, Co-founder and CEO of Rupeeflo.
“We see this as one of the biggest untapped opportunities in fintech. In the USA alone, NRIs have over $300 billion in low-yield savings overseas because investing in India has been too complex. We are fixing the problem so that they can participate in India’s future instead of just watching from the sidelines,” said Ashish Jha, Co-founder of Rupeeflo.
“NRIs are an integral engine for India’s economic growth. We are very excited that Rupeeflo is ensuring that this engine works at peak capacity by removing various points of friction in NRI investments. The company is using advanced technology to digitize the journey of NRI investors. Rather than being disruptive, Rupeeflo has taken a highly collaborative approach to working with all stakeholders in the ecosystem. We are delighted to back an amazing team of young but experienced founders as they embark on a journey that will help the nation grow,” said Abhay Agarwal, Founder and Fund Manager, Piper Serica Angel Fund.
Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo is a banking & investment platform for NRIs.
Rupeeflo streamlines banking and investing for NRIs and enables them to digitally apply for an NRE/NRO account and have access to stock markets, mutual funds, and index funds.
Starting with the U.S. and U.K., Rupeeflo aims to expand across global Indian communities worldwide by expanding across NRI hubs.
