B2B Supply Chain Fintech QuiD Cash Gets $4.5 Mn in Funding

QuiD Cash, a B2B supply chain fintech startup, has raised $4.5 million (around ₹38.23 crore) in a Pre-Series A funding round. The round saw participation from many investors, including Piyush Jain and existing backer MINTCAP. 

Funding Utilisation

The funds will be used to improve technology and drive business growth.The startup has also launched QuiD Capital, an NBFC focused on anchor-led invoice financing.

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Subhash Gupta, Co-founder, QuiD Cash, said, “With the strong demand coming from the market, funds 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, and will be further enhanced with supplier ERP Integration.”

"QuiD Cash maintains a default rate of around 1.5% on its loans through its proprietary QuiD Score underwriting model. Whenever a retailer gets onboarded or whenever the supplier shares the retailer’s data to us, the algorithm calculates the risk score for each of these retailers,” Gupta added.

Earlier in 2024, QuiD Cash raised ₹5 crore in pre-seed funding round from Mint Cap Enterprises and Stone Park Capital.

About QuiD Cash 

Bengaluru-based QuiD Cash was founded by Subhash Gupta and Vikram AG, it offers tech-driven financial solutions through its B2B supply chain platform. 

The startup currently serves about 8,000 registered users and partners with over 20 major companies in sectors like FMCG, automotive, pharmaceuticals, and agriculture. Each of these partners processes transactions worth ₹50 crore to ₹250 crore monthly.

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The fintech company currently has a team of 40 employees and plans to grow to 50 next year. It aims to onboard 5 lakh retailers over the next two years. 

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