FinTech Firm RapiPay Raises $15M

RapiPay, a fintech firm, announced on Tuesday that it had raised $15 million to develop NYE, a super app for new-age digital banking. Varun Jaipuria (RJ Corp), DLF Family Office, Rahul Gautam (Sheela Foam), and Rohan Kumar led the fundraising round (DS Group).

RapiPay claims to be India’s only digital banking company with a physical infrastructure of 500,000 hybrid Direct Business Outlets (DBOs). The firm processes one million transactions every day and has over 100 million customers, with monthly growth of 25% in basic banking services such as cash withdrawal and deposit, AEPS, micro ATMs, POS, utility payments, loans, and insurance.

“NYE is the first of its kind banking super app to manage multiple bank accounts, transactions, and all kinds of financial requirements through a single login and one view of all transactions summary,” added Nipun Jain, CEO, RapiPay.

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