RocketPay, a digital collections infrastructure platform for lenders, has raised ₹10 crore in a funding round led by Sandeep Jain and Group. The round included participation from IPV, LetsVenture, Launch Capital, AVNM Ventures, and Navyug Global Ventures, alongside existing investor All In Capital. The Bengaluru-based company plans to use the fresh capital to expand from digital collections into recovery infrastructure for lenders, including technology-enabled recovery of financed devices.
Funding Details and Investor Participation
The latest round underscores growing investor confidence in RocketPay's lending infrastructure model. Earlier investors included All In Capital, Utsav Somani, QED Innovation Labs, and Langkawi Ventures through seed funding raised in 2022 and 2023. The company also recorded another seed round in November 2024, led by Relentless Ventures with Logx Venture Partners participating, although the amounts were not publicly disclosed.
Expansion Into Recovery Infrastructure
The fresh capital will accelerate RocketPay's transition from helping lenders collect more efficiently to supporting the entire recovery lifecycle of financed assets. The company intends to offer technology-enabled recovery of financed devices, moving beyond its original digital collections focus. This shift comes ahead of the RBI framework on device locking as a collateral-enforcement tool for mobile loans, which is scheduled to take effect on January 1, 2027.
Platform Capabilities and Trustonic Partnership
RocketPay helps lenders automate collections through tools such as Account Aggregator, NACH, and UPI Autopay. Its platform also supports remote locking and unlocking of financed Android devices, a feature that aligns with upcoming regulatory requirements. The company is an authorized APAC partner of Trustonic and has access to its Device Lock Controller technology for device-level locking in financing programs.
Regulatory Tailwinds and Market Outlook
The Reserve Bank of India's framework will allow device locking as a collateral-enforcement tool for mobile loans, creating a new infrastructure need for lenders. RocketPay estimates that more than 85 million devices are sold on EMIs annually in India. The company expects the market to grow at a 10 to 12% CAGR between FY26 and FY30, expanding the addressable opportunity for recovery solutions.
Growth Metrics and Strategic Targets
RocketPay reported a 10-fold increase in revenue between FY24 and FY26 and aims to reach an annualized revenue run rate of ₹100 crore by FY28. Its platform is used by lenders with assets under management ranging from ₹300 crore to ₹16,000 crore. The company's expansion strategy is designed to capture a larger share of the recovery infrastructure market as device financing grows.
Executive Perspectives
Rishav Dokania, Co-founder and CEO at RocketPay, said the fundraise marks an important transition from building technology that helps lenders collect more efficiently to building infrastructure that can support the full recovery lifecycle of financed assets. Sandeep Jain, Co-founder of Tradeswift, said RocketPay has already demonstrated strong adoption among lenders. He added that the company is well positioned to become a category-defining platform in the rapidly growing device financing market.
With new regulatory requirements taking effect in 2027, RocketPay is positioning itself as an important infrastructure provider for India's device financing market. The funding will support its expansion into recovery capabilities and help lenders manage the lifecycle of financed assets more effectively. Its growth trajectory and investor backing reflect the rising demand for digital collection and recovery tools across the lending sector.