Bangalore-based B2B supply chain digital lending platform QuiD Cash has secured USD 4.5 Million in funds in a combination of equity and lending capital. The startup also announced the launch of QuiD Capital, an in-house NBFC facilitating anchor-led invoice financing. With new investors, existing investor MINTCAP also participated in the round. Previously, the company had raised funds in a seed round in March 2024. QuiD plans to utilize funds raised to invest in technology and the growth of the company.
Commenting on the fund raise, Piyush Jain, Angel Investor, Director of Shrem Group of Companies, said “The supply chain finance in India as a segment is huge and growing at a rapid phase. QuiD’s proprietary technology is built to enable growth by offering seamless working capital to businesses. QuiD aims to leverage advanced technologies like AI and ML to enable millions of retailers”
Talking about QuiD’s credit model, Co-founder Vikram AG, said “QuiD’s unique risk pricing model, inputs a wide range of unconventional and conventional data points, modelling and pricing the risk dynamically. This data science approach with inhouse NBFC helps anchors in unlocking off balance sheet financing by covering maximum retailers seamlessly"
On the funding utilisation, Co-founder Subhash Gupta, said “With the strong demand coming from the market, funds raised will be deployed towards further investment in technology and growth. QuiD’s hero product “Pay-in” solution suite for suppliers includes Pay Now and Pay Later at invoice level with automated reconciliation and reporting capabilities, will be further enhanced with suppliers ERP Integration”
_20241213124330_original_image_9.webp)