QuiD, a Bengaluru-based B2B supply chain fintech startup, has successfully secured Rs 5 crore in a pre-seed funding round led by Mint Cap Enterprises and Stone Park Capital, with notable participation from angel investors such as Sushant Kumar from Omidyar Network.
The startup intends to utilize the raised capital to significantly bolster and expand its technological infrastructure and deepen its relationships with existing clients and partner lenders.
According to Abhishek Pandey of Stone Park Capital, “Supply Chain financing represents a market size of around Rs 20-lakh crore as per the RBI report of 2023. With its innovative zero per cent interest BNPL as the initial product, QuiD is well-positioned to provide analytics-driven product financing solutions tailored to meet the working capital requirements of businesses.”
Founded by Vikram A G and Subhash Gupta, QuiD adopts a technology-centric approach to financial solutions, focusing on anchor-led financing for retailers. The startup’s strategy aims to unlock working capital for various stakeholders in the supply chain, including anchors, distributors, D2C brands, and manufacturers, thereby enhancing their sales and margins.
QuiD’s proprietary and meticulously engineered financial products are already reshaping the landscape of working capital support for retailers, according to the company’s statement.
Additionally, the startup is actively establishing strategic partnerships with both offline and online eCommerce marketplace players. Through deep technological integration, QuiD facilitates seamless, personalized financing solutions from its network of partner lenders.
