Hyderabad-based Fintech Startup Rupid Secures Pre-Seed Funding from EvolveX and Others
- ByStartupStory | August 28, 2023
EvolveX by We Founder Circle, known for accelerating early-stage revenue startups, has invested an undisclosed sum in Rupid, a fintech startup based in Hyderabad. This investment took place during the pre-seed funding round within the 3rd Cohort of EvolveX, which saw a total of 7 startups receiving investment.
Pedalstart and Beej Network also participated in this funding round. The capital infusion will play a vital role in helping Rupid tackle the financial challenges faced by the employed workforce in India. It will further enhance Rupid’s earned wage access and employee financial benefit platform.
Rupid, co-founded by Gowtham Alluri, Karishma, and PC Varma, specializes in an earned wage access and employee financial benefit platform. It collaborates with companies to offer employees instant access to their earned salaries.
Gowtham Alluri, the CEO and co-founder of Rupid, expressed his enthusiasm about the funding, saying, “The infusion of capital from this funding round will empower Rupid to leverage the best in technology and the client acquisition capabilities.”
Bhawna Bhatnagar, co-founder of EvolveX, affirmed the alignment of this investment with their commitment to support innovative solutions that have the potential to bring financial empowerment to a large segment of the employed population.
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