Fundly.ai Secures $4 Mn to Expand Digital Commerce and Credit Services

The round was also backed by former RBL Bank executive director Rajeev Ahuja and other angel investors. Along with the equity funding, the company has raised around $0.9 million in venture debt.

Fundly.ai will use the new funding to expand its digital commerce, payments and credit products across India's pharmaceutical supply chain.

The startup is building a platform that brings procurement, payments and working capital together for pharma retailers and distributors. Its technology is aimed at helping businesses manage their day-to-day commercial and financial activities more easily.

“India’s medicine distribution runs on WhatsApp, phone calls and paper ledgers. It works, but nothing connects. We’re building the coordination layer that sits underneath it, where ordering, payments and credit finally talk to each other,” Fundly.ai founder and CEO Amit Chawla said.

About Fundly.ai

Fundly.ai was founded in 2021 by Amit Chawla and Shreeram Ramanathan. The company started out by providing supply chain financing to pharma businesses and later expanded into B2B commerce, payments and settlements and embedded credit.

The startup brings these services together on one platform, allowing pharma retailers and distributors to handle procurement, payments and working capital in one place.