Rupeeflo Bags $1 Million to Make Investing Easier for NRIs
- ByStartupStory | February 10, 2025
Investing in India as an NRI can feel like trying to navigate a maze- Rupeeflo wants to change that. The fintech startup has raised $1 million in a pre-seed round led by the Piper Serica Angel Fund, with participation from fintech veterans like Ravi Shankar (Active AI), Kishore Natarajan, and Kedar Kulkarni (Hyperverge).
Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo is building a full-stack NRI investment platform, streamlining the process of opening NRE/NRO accounts, investing in Indian stock markets, mutual funds, and index funds- all digitally, within minutes.
“For decades, NRIs have powered India’s economy, yet they face endless hurdles when trying to invest here. Our mission is to eliminate the friction,” said Maurya, Co-founder & CEO.
The market potential is huge- NRIs currently hold over $300 billion in low-yield savings overseas, primarily because of the complexities of investing in India. Rupeeflo aims to unlock this capital by making investing seamless.
The company plans to roll out instant UPI access, expand across key NRI hubs like the U.S. and U.K., and introduce on-demand banking solutions. Investors are taking note, as India’s financial markets boom, with 18 crore Demat accounts and rising NRI participation.
“NRIs are an economic engine for India. Rupeeflo is ensuring they can participate in the country’s financial growth without regulatory headaches,” said Abhay Agarwal, Founder of Piper Serica Angel Fund.
With India poised to become an $8 trillion economy by 2031, Rupeeflo’s timing couldn’t be better. By making cross-border investing as easy as booking a flight, the startup is set to redefine how NRIs engage with India’s financial ecosystem.
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