Supply Chain Fintech Start-Up Quid Cash Secures USD 4.5 Mn In Pre-Series A Funding
(MENAFN- KNN India)
New Delhi, Dec 7 (KNN) QuiD Cash, a fintech start-up specialising in supply chain financing, has raised USD 4.5 million in its pre-Series A funding round, with participation from angel investors including Piyush Jain and existing investor Mintcap.
The company previously secured Rs 5 crore in a pre-seed round in 2024, which was led by Mintcap Enterprises and Stone Park Capital.
The fresh capital will primarily support QuiD Cash's technological advancement and service expansion initiatives.
Subhash Gupta, Co-Founder, QuiD Cash, revealed that a substantial portion of the funding will be directed toward enhancing the platform's scalability and flexibility, with ambitious plans to streamline their MSME onboarding process from eight hours to under five minutes through advanced technology implementation.
The company has carved out a niche in tier-II supply chain financing, specifically targeting India's small and medium-sized enterprises (MSMEs).
QuiD Cash collaborates with major business anchors, including B2B marketplaces, e-commerce platforms, and modern-age distributors, to provide crucial credit access to MSMEs within their networks.
Currently serving approximately 8,000 MSMEs predominantly in South India, the company maintains a notably low Non-Performing Asset (NPA) rate of 1 per cent.
Looking ahead, QuiD Cash has outlined aggressive expansion plans, with Gupta announcing ongoing discussions with over 100 potential partners and intentions to extend operations into North and West India.
The company has set an ambitious target of serving 500,000 MSMEs within the next two years, while managing a projected NPA rate of 2 per cent as it scales its operations and risk exposure.
(KNN Bureau)
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