Rupeeflo Secures $1 Million Pre-Seed Funding from Piper Serica

Fintech startup Rupeeflo has raised $1 million in a pre-seed funding round led by Piper Serica Angel Fund, with notable participation from key industry veterans including Ravi Shankar, co-founder of Active AI, Kishore Natarajan, and Kedar Kulkarni, co-founder of Hyperverge. The company plans to utilize this investment to build a comprehensive NRI (Non-Resident Indian) investment platform, offer instant UPI access, and expand its presence across global financial markets.

Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo is focused on simplifying banking and investment processes for NRIs seeking opportunities in India. Initially targeting the United States and the United Kingdom, the company aims to gradually expand its services to cover major NRI hubs around the globe.

Through Rupeeflo, users can apply digitally for NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts in less than 10 minutes. This streamlined process allows access to a variety of financial products, including stocks, mutual funds, and index funds, without the hassle of cumbersome paperwork or regulatory obstacles. The company’s mission is to address the challenges faced by NRIs when investing in India, offering a seamless experience with minimal administrative burdens.

Commenting on the potential of this market, co-founder Ashish Jha explained, "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." His statement reflects the company’s strategy to channel overseas wealth into India’s economic growth by reducing the friction NRIs typically encounter.

The funding round was spearheaded by Piper Serica, an asset management firm with investments in both public and private markets. The firm operates a SEBI-registered Portfolio Management Service (PMS), provides advisory services to a Mauritius-based offshore fund, and oversees the Piper Serica Angel Fund, which focuses on early-stage startups. With over Rs 1,000 crore in assets under management, Piper Serica plays a critical role in financing promising ventures like Rupeeflo.

By bridging the gap between NRI investors and India’s financial landscape, Rupeeflo aims to unlock new investment potential while supporting India’s economic ambitions. Its focus on leveraging digital technologies to enhance cross-border investments underscores its long-term vision to become a key player in the fintech ecosystem.