New Delhi, NFAPost: Noida-based fintech firm RapiPay Fintech Pvt. Ltd. has raised around Rs 65 crore (or about $9 million) in a Series A funding round led by a group of investors, including Dabur, Havells promoter Sheela Foam, and Medanta Co-founder Naresh Trehan.
Sources said, Dalmia Bharat Group’s Puneet Dalmia and energy company ACME also invested. Founded in 2009, RapiPay provides agent-based payments solutions for businesses.
RapiPay provides comprehensive, secure, assisted payment solutions for business enterprises. Its agents (RapiPay Saathis) offer various payment services like mobile recharge, DTH recharge, bill payments, cash withdrawal, AePS (Aadhar Enabled Payment System), etc
The company plans to use the fresh funding to expand its physical presence in other major cities to attract more customers by offering various services like foreign exchange, multicurrency prepaid forex travel card, overseas remittances, and overseas travel insurance.
Earlier in September 2020, RapiPay announced that it aims to deploy 500,000 micro-ATMs over the next two years. “We believe that for ATM cash withdrawals, Micro ATMs are a game-changer for Indian consumers, especially the marginalized population located in Tier I, II cities and rural India, the company said.