RUGR raised $5m pre-Series A for banking and payments software
Vikasa India EIF I Fund backed the Bengaluru company through convertible preference shares in September 2025.
RUGR Fintech announced a $5 million pre-Series A investment from Vikasa India EIF I Fund on 30 September 2025. The financing used compulsorily convertible preference shares and valued the company at $25 million after the investment.
The Bengaluru business provides digital-payment and banking technology, including merchant acquisition, real-time payments and escrow-based pay-in and pay-out services. Its products target financial institutions, merchants and underserved communities.
RUGR said the proceeds would support new investments, technology infrastructure and working capital. Vikasa India EIF I Fund is a Mauritius-based collective investment scheme.
Use of funds
Technology infrastructure
New investments
Working capital