In its pre-Series A round, supply chain fintech startup QuiD Cash raised $4.5 million (around Rs. 38.23 crore) from a variety of angel investors, including Piyush Jain and current backer MINTCAP.

In 2024, Mint Cap Enterprises and Stone Park Capital led QuiD's pre-seed funding campaign, which brought in Rs. 5 crore.

The money raised will go toward expanding the business and improving technology. Additionally, the company has introduced QuiD Capital, an NBFC made to make anchor-led invoice financing easier.

Through its B2B supply chain platform, QuiD Cash, founded by Subhash Gupta and Vikram AG, offers tech-based financial solutions. It works with more than 20 significant businesses in the FMCG, automotive, pharmaceutical, and agricultural sectors and serves about 8,000 users. Each month, these businesses handle transactions ranging from Rs. 50 crores to Rs. 250 crore.

The company currently employs 40 people, but it intends to grow to 50 by the following year. In the following two years, it wants to onboard five lakh retailers.

Abhishek Nehru, Co-Founder of Ripplr, India's largest tech-driven logistics player in the FMCG space, said, "QuiD's proprietary and engineered innovative finance product, combined with technology has convinced us to collaborate with QuiD to offer working capital support to our retailers."

The money raised will mostly be used to expand and improve tech capabilities, as well as to increase interaction with partner lenders and current clients. According to QuiD co-founder Subhash Gupta, "the goal is to use technology, data science, and blockchain to help the anchor and retailer community get better access to credit at invoice level."