In its pre-Series A funding round, supply chain financing-focused fintech startup QuiD Cash successfully raised $4.5 million. A number of angel investors, including Piyush Jain and its current supporter Mintcap, have contributed to the investment.

This comes after the company's 2024 pre-seed funding round, which was led by Mintcap Enterprises and Stone Park Capital and brought in Rs. 5 crores.

The fund will support QuiD Cash's aggressive expansion goals, especially those involving improving its technology stack and adding more services. Co-Founder of QuiD Cash Subhash Gupta says that a large amount of the $4.5 million will go toward expanding the scalability and flexibility of their platform.

"We want to completely transform the B2B lending cycle in terms of speed. Assigning a credit limit and disbursing funds to an MSME currently takes about eight hours. We want to use state-of-the-art technologies to cut that time down to less than five minutes," Gupta stated.

Additionally, the business intends to bolster its Non-Banking Financial Company (NBFC) operations and diversify into the B2B payments ecosystem.

QuiD Cash is a tier-II supply chain financing specialist that specializes in small and medium-sized businesses (MSMEs) in India. These MSMEs are essential components of the supply chain ecosystem, but they frequently have trouble getting credit.

Alongside major business anchors like B2B marketplaces, e-commerce platforms, and contemporary distributors, QuiD Cash provides credit limits to MSMEs. These substantial anchors facilitate QuiD Cash's outreach to thousands of MSMEs and retailers in need of funding.