Rupeeflo, a fintech startup simplifying banking and investments for NRIs, has secured $1 million in a pre-seed funding round led by Piper Serica Angel Fund.
The round also saw participation from fintech veterans, including Ravi Shankar (co-founder of Active.Ai), Kishore Natarajan, and Kedar Kulkarni (co-founder of HyperVerge).
The fresh capital will be used to launch a full-stack NRI investment platform, enable instant UPI access, and expand its global footprint, starting with the U.S. and U.K.
Founded in 2024 by Dharmendra Maurya, Ashish Jha, and Manav Bharambe, Rupeeflo enables NRIs to digitally open NRE/NRO accounts in under 10 minutes and seamlessly invest in stock markets, mutual funds, and index funds—eliminating regulatory complexities.
India’s financial markets are witnessing unprecedented growth, with over 18 crore Demat accounts. However, NRIs hold only 7 lakh accounts, primarily due to outdated banking processes and regulatory hurdles that complicate investing in India.
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“We see this as one of the biggest untapped opportunities in fintech. In the U.S. alone, NRIs hold over $300 billion in low-yield savings due to the complexities of investing in India. We are solving this problem so they can actively participate in India’s growth rather than just observe from the sidelines,” said co-founder Ashish Jha.
