[Funding alert] Fintech startup Rooba Finance raises $1.3 mn seed funding

Rooba Finance, on Thursday, said it has secured seed funding of $1.3 million (around Rs 10 crore) led by Inflection Point Ventures, with participation from LetsVenture, Endurance Capital, KubeVC and other angel investors.

The Gurugram-based firm intends to use the new funds to develop a licensed platform in other countries and implement a global trade management (GTM) strategy.

Rooba Finance, founded in 2021 by Srinivas Lingamuthu and Arjun Khazanchi, assists Institutions, HNIs, hedge funds, and family offices in securely storing their digital assets such as crypto, NFT, and other tokens while also providing access to numerous investment vehicles under a single window.

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“At Rooba Finance, we are a team of passionate individuals with years of experience in traditional security, banking, enterprise, and cryptographic space. The universe is at play, and we are out to build the most logical and functional network to support further adoption of the Web3 ecosystem,” said Srinivas L, founder and chief executive officer, Rooba Finance.

According to a release, the company also allows institutions to tokenize physical assets to enable efficient and transparent markets, as well as extending into what would be India’s first digital commodities and derivatives exchange.

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“Crypto and other digital assets are fast gaining popularity in India; however, many aspiring investors of this asset class still find it difficult to understand the trading in such assets. Because these assets are built on Web3 and pillars of decentralization, the system by nature is designed to be trustless as it is completely automated. Rooba is addressing this large untapped market, which we believe will experience an exponential growth in the next 24 months,” said Mitesh Shah, co-founder, Inflection Point Ventures.

About Rooba Finance

Rooba Finance Platform Helps Financial Institutions To Navigate The Complex Landscape Of Digital Assets While Providing Best In Class, Military Grade Security And Compliance Management. Rooba Institutional Crypto & Digital Asset Management Suite.

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At Rooba Finance, they are a team of passionate individuals with years of experience in the traditional security, banking, enterprise and cryptographic space. The universe is at play and they are out to build the most logical and functional network to support further adoption of the Web3 ecosystem.