QuiD Cash Raises $4.5 Million to Accelerate Supply Chain Financing Solutions

The funding was led by angel investors and existing investor Mintcap

by Aishwarya Bhatt · January 9, 2025

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Supply chain financing startup QuiD Cash has secured $4.5 million in pre-Series A funding from angel investors, including Piyush Jain and existing investor Mintcap. The latest round follows the company's pre-seed funding of ₹5 crore earlier in 2024, which Mintcap Enterprises and Stone Park Capital led.

The fintech company plans to use the fresh capital to enhance its technology infrastructure and expand its service offerings. "Our goal is to revolutionize 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," said Subhash Gupta, Co-Founder of QuiD Cash.

Operating primarily in South India, QuiD Cash specializes in tier-II supply chain financing for small and medium-sized enterprises (MSMEs). The company currently serves approximately 8,000 MSMEs and collaborates with large business anchors, including B2B marketplaces, e-commerce platforms, and modern-age distributors, to connect with businesses requiring financing.
Despite being in its early stages, QuiD Cash has maintained a commendable performance with a low Non-Performing Asset (NPA) rate of around 1%. As the company plans to scale its operations, it has set a conservative NPA target of 2% for the current year.

The startup has ambitious expansion plans, according to Gupta. "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," he said. QuiD Cash also plans to strengthen its Non-Banking Financial Company (NBFC) operations and then diversify into the B2B payments ecosystem.

QuiD Cash's focus on serving MSMEs addresses a critical gap in India's supply chain ecosystem, where smaller businesses often struggle to access traditional credit channels. The company aims to streamline financing through its technology-driven approach and make credit more accessible to this underserved segment.