Fintech startup Rupeeflo has raised $1 million in a Pre-Seed funding round led by Piper Serica Angel Fund. Industry veterans, including Ravi Shankar (Co-Founder of Active AI), Kishore Natarajan, and Kedar Kulkarni (Co-Founder of Hyperverge), also participated in the round.

The funding will be used to develop a full-stack investment platform for NRIs, introduce instant UPI access, and expand globally. Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo simplifies banking and investing for NRIs in India. Initially targeting the U.S. and U.K., the startup plans to extend its services to other global NRI hubs.

With Rupeeflo, NRIs can now open an NRE/NRO account digitally in under 10 minutes and gain seamless, paperless access to Indian stock markets, mutual funds, and index funds without regulatory hurdles.

“This is one of the biggest untapped fintech opportunities. In the U.S. alone, NRIs hold over $300 billion in low-yield savings due to the complexity of investing in India. We are solving this problem so they can actively participate in India’s economic growth,” said Co-Founder Ashish Jha.

Piper Serica, an asset management firm, invests in India’s public and private markets. It manages a SEBI-registered PMS, advises a Mauritius-based offshore fund, and oversees the Piper Serica Angel Fund for early-stage startups, managing assets worth over Rs. 1,000 crore.

With the latest funding, Rupeeflo aims to enhance its technology, improve user experience, and simplify cross-border investments for NRIs. The company is focused on building a seamless and transparent platform.