Supply Chain Startup QuiD Raises Rs.5 crore in Pre-seed Funding
Supply Chain Fintech startup which is based in Bengaluru, has recently raised Rs.5 crore in pre-seed funding led by institutions like Mint Cap Enterprises and Stone Park Capital. The funding round was spearheaded by Mint Cap Enterprises and Stone Park Capital and further supported by Angel investors such as Sushant Kumar of Omidyar Network.
Stone Park Capital’s Abhishek Pandey acknowledges the start-up’s innovative zero-interest Buy Now, Pay Later (BNPL) offering as a strategic entry point. This offering is set to be just the beginning; QuiD plans to develop analytics-based financial products tailored to meet the working capital demands of diverse businesses.
According to the statement of the company, the freshly raised fund will be utilized to enhance and expand tech capabilities, and to foster stronger connections with existing clients and partner lenders
Co-founder of QuiD, Subhas Gupta said, “The vision is to leverage technology, data science and block chain to help anchor and retailer community get better access to credit at invoice level.”
Talking about the investment, Abhishek Pandey of Stone Park Capital, "Supply Chain financing as a market is around Rs. 20-lakh crore as per RBI report 2023 and with zero per cent interest BNPL as first step product, QuiD is better placed to offer analytics-based product financing innovation to suit the working capital needs of businesses.”
QuiD is a bengaluru based B2B supply chain FinTech marketplace platform. It delivers solutions for tech-driven financial float strategies, working capital financing discovery, accelerated collections through decision science systems, and analytics-driven retailer discovery and profiling.
Stone Park Capital’s Abhishek Pandey acknowledges the start-up’s innovative zero-interest Buy Now, Pay Later (BNPL) offering as a strategic entry point. This offering is set to be just the beginning; QuiD plans to develop analytics-based financial products tailored to meet the working capital demands of diverse businesses.
According to the statement of the company, the freshly raised fund will be utilized to enhance and expand tech capabilities, and to foster stronger connections with existing clients and partner lenders
Co-founder of QuiD, Subhas Gupta said, “The vision is to leverage technology, data science and block chain to help anchor and retailer community get better access to credit at invoice level.”
Talking about the investment, Abhishek Pandey of Stone Park Capital, "Supply Chain financing as a market is around Rs. 20-lakh crore as per RBI report 2023 and with zero per cent interest BNPL as first step product, QuiD is better placed to offer analytics-based product financing innovation to suit the working capital needs of businesses.”
QuiD is a bengaluru based B2B supply chain FinTech marketplace platform. It delivers solutions for tech-driven financial float strategies, working capital financing discovery, accelerated collections through decision science systems, and analytics-driven retailer discovery and profiling.
