RocketPay is a lender-focused digital collections infrastructure platform. RocketPay has successfully raised ₹10 crore in a fresh funding round. The round was led by Sandeep Jain and Group. The fresh capital infusion is a major milestone in the firm’s expansion plans, as it strives for increased technological infrastructure, geographical reach, and market share in the expanding financial technology landscape in India. The capital infusion will support the company’s future expansion and strengthen its service focus in the lending market.

Business model and capital utilization

Several well-known institutional investors and venture networks participated in the funding round, including IPV, LetsVenture, Launch Capital, AVNM Ventures, and Navyug Global Ventures. Existing investor All In Capital continued to support the round. 

It reflects their continued trust in RocketPay’s business and market models. The platform’s diverse set of investors provides significant support to its current positioning in the competitive digital infrastructure market.

RocketPay aims to continue its strategic growth from digital collections to all-encompassing loan recovery infrastructure for lenders with the additional capital raised. One significant area within this growth is the recovery of financed devices through technology. 

Established in 2022 by Rishav Dokania, Arpit Bajpai, Ishan Sharma, and Kishor Chabbadiya, the business presently assists lenders in automating collections using digital financial instruments like Account Aggregator, NACH, and UPI Autopay. The platform offers targeted services, such as distance locking and unlocking of financed Android devices.

Ambitious financial targets and planned expansion

Since its inception, it has shown remarkable financial and operational expansion. RocketPay states that its revenue grew by 10 times between 2024 and 2026. The firm has ambitious financial goals of achieving a revenue run rate of ₹100 crore annually by FY 28. Its robust technology platform is currently being used by lenders holding loans worth between ₹300 crore and ₹16,000 crore.

One of the key aspects of RocketPay’s market positioning is the strategic relationship it has built with industry partners. The brand is Trusticor’s authorized APAC distributor and has direct access to Trusticor’s exclusive Device Lock Controller technology. This collaboration provides efficient device-locking features and options specifically designed for different financing schemes. This feature will serve well with forthcoming financial regulatory modifications.

The planned growth by RocketPay follows the Reserve Bank of India’s directions on device locking as a collateral enforcement mechanism with a view to mobile loans. This new regulatory regime will come into effect officially on January 1, 2027. The company reported that equated monthly instalments (EMI) market shipments are valued at over 85 million units per year in India and are projected to grow at a CAGR of 10% to 12% in 2026 to 2030.

Conclusion

As a result of the successful capital raise led by Sandeep Jain and Group, RocketPay is well placed for the next stage of its growth in the Indian fintech and lending infrastructure landscape. The company will be able to address the coming regulatory changes made by the Reserve Bank of India with its combination of automated collection tools and cutting-edge device-locking technology, which was enabled through its collaboration with Trustonic. RocketPay is positioned for further growth and development, driven by its historical revenue stream and clear strategic goals, ensuring that it remains a solid platform for lenders and efficient asset recovery of loans.