RUGR Fintech Raises $5 Million to Boost Rural Digital Banking
- Raises $5 Million in pre-Series A led by Vikasa India EIF I Fund
- Aims to expand tech, working capital, and strategic investments
- Focuses on rural banking, digital payments, and financial inclusion
RUGR Fintech, a Bengaluru based fintech startup focused on rural India, has raised $5 million in pre-Series A funding. The round was led by Vikasa India EIF I Fund, a Mauritius based investment firm, through Compulsorily Convertible Preference Shares (CCPS). The funding pegs RUGR's post-money valuation at $25 million.
The startup plans to use the funds to scale its technology infrastructure, invest strategically, and strengthen its working capital to support rapid growth.
RUGR Fintech provides a one stop digital platform designed to serve rural banks, cooperative banks, and societies. Its services include merchant onboarding, real time payments, escrow based pay-in/pay-out systems, and managed financial services.
With a strong focus on financial inclusion, RUGR enables banks and institutions to offer modern digital banking tools in underserved and remote regions. The platform helps bring the underbanked and unbanked into the formal financial system.
Founded with the mission to bridge the digital divide in rural India, RUGR empowers banks and businesses to extend secure and simple financial services to the last mile.
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The company is seeing increasing traction as India’s digital economy continues to grow, especially in tier-3 and rural areas, where demand for accessible digital financial services is on the rise.
This funding will support RUGR’s vision to create a stronger financial backbone for India’s rural economy by delivering easy-to-use, tech-driven banking solutions.
