Currently, QuiD Cash serves around 8,000 registered users across diverse sectors including FMCG, automotive, and pharmaceuticals, and is looking to expand its technological capabilities.

QuiD Cash, a Bengaluru-based supply chain fintech startup, has successfully raised $4.5 million in a Pre-Series A funding round, attracting investments from angel investors including Piyush Jain and existing investor MINTCAP.

The potential market for supply chain financing in India is estimated at INR 20 lakh crore, according to a 2023 RBI report, indicating a growing investment interest in this area.

To facilitate its operations, QuiD has launched QuiD Capital, an in-house non-banking financial company (NBFC) that specializes in anchor-led invoice financing.

Co-founder Vikram AG emphasized QuiD's unique risk pricing model, which leverages various data points to dynamically assess and price risk.

The startup has maintained a low loan default rate of approximately 1.5%, utilizing a proprietary risk assessment model known as QuiD Score to evaluate retailers' creditworthiness.

Recent funding trends in the sector include Avanti Finance securing $14.2 million in Series B extension funding and Arthan Finance raising INR 50 crore in Series B funding, highlighting a surge in capital flow into NBFCs.

Angel Investor Piyush Jain has noted the significant growth potential of supply chain finance in India, particularly emphasizing QuiD's technology for providing working capital.

The newly acquired funds will be directed towards enhancing technology and supporting the company's growth initiatives, particularly focusing on their innovative 'Pay-in' solution suite.

This 'Pay-in' solution suite offers features like Pay Now and Pay Later options at the invoice level, along with automated reconciliation and reporting, which are set to be further enhanced with ERP integration for suppliers.

QuiD Cash has ambitious plans to onboard 500,000 retailers within the next two years, showcasing its growth aspirations in the supply chain finance sector.

Founded by Subhash Gupta and Vikram AG, QuiD Cash operates with a team of 40 employees, with plans to increase this number to 50 in the upcoming year.