RUGR Fintech, a startup focused on rural financial services, has raised $5 million in pre-Series A funding from Vikasa India EIF I Fund, a Mauritius-based investment group.
The money will be used to improve its technology, make strategic investments, and increase working capital to support its next stage of growth.
RUGR Fintech was founded in 2022 by KV Arangasamy and is based in Bengaluru.
The startup offers a digital platform that brings modern banking and payment solutions to underserved areas.
RUGR Fintech offers services like merchant onboarding, real-time payments, escrow-based transactions, and managed services.
These solutions help banks, cooperatives, and businesses bring financial access to underbanked communities.
With the new funding, RUGR Fintech will expand its efforts to modernize rural financial systems and close the gap between rural and urban areas, strengthening its position as an inclusive, next-generation fintech.
A few months ago, the fintech startup named Bollywood actor Hrithik Roshan as its brand ambassador.
He will help promote the platform’s focus on making banking and saving in India simple, secure, and easy to scale.
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