RocketPay raises $1.05M to build recovery infrastructure for lenders
What's the deal? RocketPayDealroom has a profile for this one. Try Dealroom →, an Indian digital collections infrastructure platform for lenders, has raised US$1.36M (roughly $1.05 million) in a round led by Sandeep Jain and Group. IPV, LetsVentureDealroom has a profile for this one. Try Dealroom →, Launch Capital, AVNM VenturesDealroom has a profile for this one. Try Dealroom →, and Navyug Global VenturesDealroom has a profile for this one. Try Dealroom → joined, alongside existing investor All In CapitalDealroom has a profile for this one. Try Dealroom →.
What's the endgame? 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. The fresh capital will fund its expansion from digital collections into recovery infrastructure, including technology-enabled recovery of financed devices.
Why now? The expansion comes ahead of a Reserve Bank of India framework on device locking as a collateral-enforcement tool for mobile loans, due to take effect on January 1, 2027. RocketPay's platform already supports remote locking and unlocking of financed Android devices, and it is TrustonicDealroom has a profile for this one. Try Dealroom →'s authorised APAC partner with access to its Device Lock Controller technology.
By the numbers: The company claims a 10x revenue increase between FY24 and FY26 and targets an annualised revenue run rate of US$13.6M by FY28. Its platform is used by lenders with assets under management ranging from US$40.7M to US$2.17B.
The signal: India sells more than 85 million devices on EMIs each year, a market projected to grow 10-12% annually between FY26 and FY30. As the central bank formalises device locking, infrastructure players like RocketPay are positioning to serve lenders navigating the new rules.
Read more: entrackr.com
Image credit: Generated with Gemini
