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B2B Embedded Supply Chain Fintech QuiD Secures Rs 5 Crores In Pre-Seed Funding

QuiD offers tech-driven financial float as a product strategy, enabling anchor-led financing to retailers.

B2B Embedded Supply Chain Fintech QuiD Secures Rs 5 Crores In Pre-Seed Funding
Co-founders of QuID, Vikram A G and Subhash Gupta

Outlook Start-Up Desk

POSTED ON February 21, 2024 11:57 AM

Bengaluru-based supply chain fintech start-up, QuiD announced that it has secured Rs 5 Crores in pre-seed funding led by institutions like Mint Cap Enterprises and Stone Park Capital.

Angel investors include Sushant Kumar of Omidyar Network, India among others in their capacity.   

QuiD offers tech-driven financial float as a product strategy, enabling anchor-led financing to retailers. This helps unlock working capital for anchors, distributors, D2C, and manufacturers resulting in higher sales and margins. The company is currently catering to a few top anchors in the country and plans to extend the offering to other potential clients.   

“QuiD’s proprietary and engineered innovative finance product, combined with technology has convinced us to collaborate with QuiD to offer working capital support to our retailers” quoted Abhishek Nehru, co-founder, Ripplr, India’s largest tech-driven logistics player in FMCG space.   

“The funds raised will be primarily deployed to strengthen and scale tech capabilities and to deepen engagement with current clients and partner lenders. The vision is to leverage technology, data science and blockchain to help anchor and retailer community gets better access to credit at invoice level” said Subhash Gupta, co-founder, of QuiD.   

QuiD partners with both offline and online e-commerce marketplace players with deep tech integration, enabling seamless customized financing from QuiD’s partner lenders.  

“The current funding validates our thesis on interest rate arbitrage as a model which creates a strong moat through network effect,” said Vikram, co-founder, of QuiD  

“Supply Chain financing as a market is around Rs 20 Lakh crores as per RBI report 2023 and with 0 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” mentioned Abhishek Pandey of Stone Park Capital. 

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