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Digital collections startup RocketPay raises Rs 10 crore to expand into financed device recovery

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Digital collections startup RocketPay raises Rs 10 crore to expand into financed device recovery

Bengaluru-based RocketPay, a digital collections infrastructure platform for lenders, has raised Rs 10 crore in a funding round led by Sandeep Jain and Group, as it looks to expand into tech-enabled recovery of financed assets.

The round also saw participation from IPV, LetsVenture, Launch Capital, AVNM Ventures and Navyug Global Ventures, alongside existing investor All In Capital.

The startup plans to use the fresh capital to expand beyond digital loan collections and develop recovery infrastructure for lenders, including solutions for devices purchased through loans.

“This fundraise marks an important transition for RocketPay from building technology that helps lenders collect more efficiently to building infrastructure that can support the entire recovery lifecycle of financed assets,” said Rishav Dokania, co-founder and CEO of RocketPay.

Founded in 2022 by Rishav Dokania, Arpit Bajpai, Ishan Sharma and Kishorkumar Chabhadiya, RocketPay provides technology to help lenders automate loan collections and manage repayments.

Its platform supports digital collection processes through services including Account Aggregator, National Automated Clearing House (NACH) and UPI Autopay.

According to the startup, its platform serves lenders with assets under management (AUM) ranging from Rs 300 crore to Rs 16,000 crore.

RocketPay reported a tenfold increase in revenue between FY24 and FY26 and is targeting an annualised revenue run rate of Rs 100 crore by FY28. 

The startup has previously received backing from investors including Blume Founders Fund, Warmup Ventures, Venture Catalysts and Relentless VC.

As part of its expansion, RocketPay is developing technology to help lenders manage the recovery of financed devices, including smartphones purchased through loan arrangements.


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