This follows the company’s earlier funding round in 2024, when it raised ₹5 crore in its pre-seed stage, led by Mintcap Enterprises and Stone Park Capital.
The funding is set to fuel QuiD Cash’s ambitious plans for growth, particularly in enhancing its technology stack and expanding its services. According to Subhash Gupta, Co-Founder of QuiD Cash, a significant portion of the $4.5 million will be allocated towards making their platform more scalable and flexible.
“Our goal is to revolutionise the speed of the B2B credit cycle. Currently, it takes around eight hours to onboard an MSME, assign a credit limit, and disburse funds. We aim to reduce that time to under five minutes by leveraging cutting-edge technologies,” Gupta explained. The company also plans to expand into the B2B payments ecosystem and strengthen its Non-Banking Financial Company (NBFC) operations.
QuiD Cash specialises in tier-II supply chain financing, focusing on India’s small and medium-sized enterprises (MSMEs). These MSMEs are critical players in the supply chain ecosystem but often face challenges in accessing credit. QuiD Cash offers credit limits to MSMEs, working alongside large business anchors such as B2B marketplaces, e-commerce platforms, and modern-age distributors. These large anchors help QuiD Cash connect with thousands of MSMEs and retailers needing financing.
QuiD Cash operates primarily in South India, serving around 8,000 MSMEs. However, the company has aggressive expansion plans in the pipeline. “We’re in talks with over 100 partners and intend to expand into North and West India. In the next two years, our goal is to serve 5 lakh MSMEs,” Gupta shared.
Despite being in the early stages of growth, QuiD Cash has maintained a low Non-Performing Asset (NPA) rate of around 1%. However, as the company scales and takes on more risk, it has set an NPA target of 2% for the current year.
Watch the accompanying video for the entire conversation.
