RocketPay secure Rs 10 crore funding led by Sandeep Jain and Group
The round also included participation from IPV, LetsVenture, Launch Capital, AVNM Ventures and Navyug Global Ventures.
1 min read
RocketPay, a digital collections platform serving lenders, has raised Rs 10 crore in a funding round led by Sandeep Jain and Group.
The round also saw participation from IPV, LetsVenture, Launch Capital, AVNM Ventures and Navyug Global Ventures. Existing investor All In Capital also participated in the round.
The company plans to deploy the fresh capital to expand beyond digital collections into recovery infrastructure for lenders. It is also looking to scale technology-led recovery solutions for financed devices.
Founded in 2022 by Rishav Dokania, Arpit Bajpai, Ishan Sharma and Kishor Chabbadiya, RocketPay helps lenders automate collections through Account Aggregator, NACH (National Automated Clearing House) and UPI Autopay.
The company claims its revenue grew 10x between FY24 and FY26 and targets an annualised revenue run rate of Rs 100 crore by FY28. It serves lenders with AUM of Rs 300 crore to Rs 16,000 crore and partners with Trustonic for device-locking technology.
The expansion comes ahead of the RBI’s device-locking framework for mobile loans, effective January 1, 2027. RocketPay estimates that over 85 million devices are sold on EMI annually in India, with the market projected to grow 10-12% annually through FY30.