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RapiPay forays into digital banking, raises $15 million

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Fintech participant RapiPay has raised $15 million in funding to launch a new-age digital banking tremendous app – NYE.
The present funding spherical is led by Varun Jaipuria of RJ Corp, DLF Household Workplace, Rahul Gautam of Sheela Foam and Rohan Kumar of DS Group, Rapipay mentioned on Tuesday. 

“The contemporary capital will likely be used for constructing a sturdy digital monetary ecosystem within the nation for each customers and companies,” mentioned Yogendra Kashyap, Co-founder and MD, RapiPay.

“The buyers see an important synergy with NYE in getting their whole retail community of 60 lakh retailers utilizing the tremendous app for all their necessities like wage and present accounts, cost options, retail and enterprise loans, Purchase Now Pay Later, investments, insurance coverage or different comfort providers,” it mentioned.
Nipun Jain, CEO, RapiPay mentioned the corporate plans to make use of NYE to leverage know-how to offer banking and monetary providers in a seamless and safe method.
“NYE is the primary of its variety banking tremendous App to handle a number of financial institution accounts, transactions and every kind of monetary necessities by a single login and one view of all transactions abstract,” he mentioned.
RapiPay does about 10 lakh day by day transactions and has served over 10 crore clients.
It’s now focusing on to open 20 lakh main present and wage financial institution accounts, set up 10 lakh
POS machines, a GTV of $ 30 billion, 15 crore distinctive clients, 35 lakh day by day transactions and
have a phygital infra of 20 lakh hybrid direct enterprise shops by 2025.

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February 15, 2022

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