Bengaluru-based B2B supply chain fintech start-up QuiD has raised ₹5 crore in pre-seed funding led by institutions like Mint Cap Enterprises and Stone Park Capital. Angel investors such as Sushant Kumar of Omidyar Network participated in their individual capacity.
The funds raised will be utilised to enhance and expand tech capabilities, as well as to foster stronger connections with existing clients and partner lenders.
“The vision is to leverage technology, data science and block chain to help anchor and retailer community get better access to credit at invoice level” said Subhash Gupta, co-founder, QuiD.
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Commenting on investment, Abhishek Pandey of Stone Park Capital said, “Supply Chain financing as a market is around ₹20-lakh crore as per RBI report 2023 and with zero per cent interest BNPL as first step product, QuiD is better placed to offer analytics-based product financing innovation to suit the working capital needs of businesses.”
QuiD is a B2B supply chain FinTech marketplace platform. It provides solutions for tech-driven financial float strategies, working capital financing discovery, accelerated collections through decision science systems, and analytics-driven retailer discovery and profiling.