loading
loading
RocketPay, a digital collections infrastructure platform for 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, alongside existing investor All In Capital. The fresh capital will support RocketPay’s expansion from digital collections into recovery infrastructure for lenders. It also plans to expand into technology-enabled recovery of financed devices. Founded in 2022 by Rishav Dokania, Arpit Bajpai, Ishan Sharma and Kishor Chabbadiya, RocketPay helps lenders automate collections through tools such as Account Aggregator, NACH and UPI Autopay. Its platform also offers remote locking and unlocking of financed Android devices. The firm claims to have reported a 10x increase in revenue between FY24 and FY26 and aims to reach an annualised revenue run rate of Rs 100 crore by FY28. Its platform is used by lenders with assets under management ranging from Rs 300 crore to Rs 16,000 crore. The brand is Trustonic’s authorised APAC partner and has access to its Device Lock Controller technology, which enables device-level locking for financing programmes. The expansion comes ahead of the RBI framework on device locking as a collateral-enforcement tool for mobile loans, which is scheduled to take effect on January 1, 2027. According to the company, more than 85 million devices are sold on EMIs annually in India, with the market expected to grow at a 10-12% CAGR between FY26 and FY30.
document fetched 2026-10-15 03:00