RevRag AI raises seed funding from Accion Ventures, Cedar Hill Capital, others
Prior to this funding round, RevRag AI had secured $600,000 in a pre-seed round led by Powerhouse Ventures in August 2024.
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RevRag AI, an AI agent platform for the banking, financial services, and insurance (BFSI) sector, has raised $2.5 million in a seed funding round led by Accion Ventures.
The funding round also saw participation from Cedar Hill Capital, Wyser and Venture Catalysts, a statement said.
The Bengaluru-based startup will use the fresh capital to accelerate product development, expand enterprise deployments and support its entry into the US market.
Founded in 2022 by Ashutosh Prakash Singh, Neeraj Gupta and Pankaj Gupta, RevRag AI develops multilingual AI agents for banks and fintechs to automate customer onboarding, sales and support. The startup claims to serve over 45 financial institutions, including PhonePe, Bajaj Finance, Motilal Oswal and IIFL, while reducing costs by up to 70%.
Rahil Rangwala, managing partner, Accion Ventures, said that RevRag’s AI-powered in-app agents are revolutionizing how financial institutions serve millions of people with limited digital and financial literacy.
Sahil Anand, managing partner, Cedar Hill Capital, noted that what makes RevRag unique is that its agents don’t sit outside the customer journey, but rather sit inside, and support various workflows and app complexities.
Prior to this funding round, RevRag AI had secured $600,000 in a pre-seed round led by Powerhouse Ventures in August 2024. In September 2025, the startup also acquired GenStaq.ai, which specialises in LLMOps and workflow orchestration.