9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
Rupeeflo’s Big Move: Making Financial Access Easier for NRIs Rupeeflo, a fintech startup, has just raised a whopping $1 million in pre-seed funding, and it’s set to change
Rupeeflo, a fintech startup, has just raised a whopping $1 million in pre-seed funding, and it’s set to change the way Non-Resident Indians (NRIs) bank and invest in India. Backed by Piper Serica Angel Fund, this move aims to break down barriers for NRIs who’ve faced decades of frustrating banking procedures and complicated investment processes.
In a world where most NRIs have been kept at arm’s length by India’s financial systems, Rupeeflo is here to give them the access they deserve—quickly, easily, and without the hassle.
Let’s dive into what makes Rupeeflo a game-changer and how its founders are set to transform financial access for millions of NRIs worldwide.
Rupeeflo’s mission is simple yet powerful: making banking and investing seamless for NRIs. Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo is focused on streamlining the financial experience for those living outside India.
Here’s how it works:
Rupeeflo’s recent $1 million funding round was led by Piper Serica Angel Fund, with prominent fintech veterans such as Ravi Shankar (Co-Founder of Active AI), Kishore Natarajan, and Kedar Kulkarni (Co-Founder of Hyperverge) also joining the round. This funding will enable the startup to roll out its full-stack NRI investment platform and introduce key features like instant UPI access, further simplifying financial transactions for NRIs.
Expansion Plans: With the funding secured, Rupeeflo has bigger plans for the future, including expanding to more international markets and ensuring that NRIs everywhere can access India’s financial growth story with ease.
NRIs have long been an essential part of India’s economic engine, but despite their contributions, they’ve faced significant obstacles when it comes to accessing India’s financial markets.
Despite India’s record-breaking financial growth, with over 18 crore Demat accounts in the country, NRIs hold only around 7 lakh accounts. Why? Because the process to open bank accounts, invest in the stock market, and even make simple transactions has been slow, cumbersome, and mired in outdated banking systems and regulatory roadblocks.
Many NRIs have billions of dollars in savings, but they can’t invest them in India’s growing economy due to these barriers. As a result, much of their wealth is stuck in low-yield savings in countries like the U.S. But Rupeeflo aims to change all that.
One of Rupeeflo’s biggest opportunities lies in addressing the $300 billion of savings that NRIs hold overseas, especially in the U.S. Much of this money is trapped in low-yield savings accounts, primarily due to the complexity of investing in India.
Rupeeflo co-founder Ashish Jha explained, “We see this as one of the biggest untapped opportunities in fintech. NRIs are holding huge amounts of savings overseas because investing in India has been too complex. We want to fix that, so they can actively participate in India’s growth story instead of just watching from the sidelines.”
With an easy-to-use platform, Rupeeflo is aiming to make it simple for NRIs to send money back home, invest in mutual funds, and diversify their portfolios—all with just a few clicks.
The leadership behind Rupeeflo is passionate about making a difference. Dharmendra Maurya, the co-founder and CEO, believes that NRIs have long been the backbone of India’s economy but have been held back by India’s outdated financial system.
“For decades, NRIs have been the backbone of India’s economy, yet the financial system has kept them at arm’s length. Opening a bank account, investing in India, or even making simple transactions has been a maze of delays, paperwork, and regulatory roadblocks. With Rupeeflo, every NRI can get started in just 10 minutes and be part of India’s growth story without friction,” said Dharmendra Maurya, CEO.
Rupeeflo’s approach is all about simplifying the investment journey for NRIs using advanced technology to digitize the entire process. Rather than disrupting the financial system, Rupeeflo is collaborating with all stakeholders to ensure a seamless experience for NRIs.
Looking ahead, Rupeeflo is set to expand its global reach. After launching in the U.S. and U.K., the company plans to extend its services to global Indian communities, including places with significant NRI populations, like Canada, Australia, and the Middle East.
Rupeeflo’s full-stack investment platform will offer instant access to various financial products like stock markets, mutual funds, and even more advanced investment options for those who want to grow their wealth in India.
Rupeeflo is more than just a fintech company; it’s a catalyst for change. By removing the friction and complexity that has historically prevented NRIs from investing in India, Rupeeflo is unlocking new possibilities for millions of NRIs across the globe.
Whether you’re an NRI looking to invest your hard-earned savings or someone who wants to explore opportunities in India’s booming economy, Rupeeflo is the platform that could help you take the leap—quickly, easily, and confidently.
