Join our Waitlist for Expert Advice!

Fintech Startup Rupid Secures Pre-Seed Funding From EvolveX The funding will fuel Rupid's mission to address the financial challenges faced by India's employed workforce

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Hyderabad based fintech startup Rupid has secured an undisclosed amount in a pre-Seed funding from EvolveX by We Founder Circle. This investment came under the 3 rd Cohort of Evolve X where they invested in 7 startups in total. The funding will fuel Rupid's mission to address the financial challenges faced by India's employed workforce and further enhance its innovative earned wage access and employee financial benefit platform.

"The infusion of capital from this funding round will empower Rupid to leverage best in technology and the client acquisition capabilities," said Gowtham Alluri, co-founder and CEO, Rupid.

As per the company, Rupid is building products that empower the financial well-being of employees apart from their flagship product of No-cost, on-demand salary access.

Co-founded by Gowtham Alluri, Karishma, and PC Varma, Rupid provides a 'Zero cost, Zero risk' solution for employees to access their earned salaries. It has also taken the initiative to address these financial burdens by forging strategic partnerships with organizations.

"Financial assistance to a large employed population is required in India and, we see a transformative shift in how Rupid addresses this with its innovative approach and strategic partnerships. The investment in Rupid aligns with our commitment to support forward-thinking solutions that have the potential to bring financial empowerment to a large segment of the employed population," said Bhawna Bhatnagar, co-founder, EvolveX.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Marketing

How I Found My Voice and Built a Life as an Entrepreneur — in 3 Acts

I want to share my journey as an entrepreneur and what led to me starting my own company.

Business News

This Is the Goal-Setting Method Shohei Ohtani Learned in High School That Helped Get Him to the World Series

The MLB superstar's success did not come as a surprise to him. He had a plan.

Business News

This New Restaurant Is Banking on One Dish — Because It's the Only Entrée on the Menu

The new hotspot is gaining buzz on social media for its innovative yet super simple concept.

Leadership

4 Bold Leadership Moves Every Successful CEO Uses to Navigate Change

Ready to turn fear into fuel and lead with confidence? In this article, I share how leaving my corporate job without a plan led me to build a thriving business. Learn four bold strategies to embrace uncertainty and turn challenges into opportunities for growth today.

Social Media

Stop Chasing Algorithms — Here's How Creators Can Take Control of Their Content and Monetize on Their Own Terms

Social media platforms promise creators visibility, but the real challenge lies in relying on algorithms for income.