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RapiPay forays into digital banking

February 16, 2022

RapiPay forays into digital banking

RapiPay has brought $15 million up in funding to launch NYE, new-age digital banking super App. Believing in RapiPay’s growth story, the current financing round is led by Varun Jaipuria (RJ Corp), DLF Family Office, Rahul Gautam (Sheela Foam), and Rohan Kumar (DS Group).

The investors see incredible synergy with NYE (digital banking Super App) in getting their whole retail organization of 6 million dealers involving the super App for every one of their necessities like salary and current accounts, payment solutions, retail, and business loans, Buy Now Pay Later, investments, insurance or other convenience services.

RapiPay is the main Digital Banking player in the country to have a prepared phygital infrastructure of a large portion of 1,000,000 crossover Direct Business Outlets (DBOs). The organization is doing 1 million day-by-day exchanges and has served in excess of 100 million clients, seeing a powerful development of 25% MOM in fundamental banking services like Cash withdrawal and deposit, AEPS, Micro ATMs, POS, Utility payments, Loans, and Insurance.

The organization presently focuses to open 2 million essential current and compensation ledgers, introduce 1 million POS devices, a GTV of USD $30 bn, 150 million unique clients, 3.5 million everyday transactions and have a phygital infra of 2 million half breed DBOs by 2025. The half and half DBOs will give banking services to clients all day, every day at the doorstep across sections and geographies in the country.

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