Digital collections infrastructure startup RocketPay raises Rs 10 Cr from Sandeep Jain and Group
Digital collections infrastructure startup RocketPay has raised Rs 10 crore in a funding round led by Sandeep Jain and Group.
Other participants included IPV, LetsVenture, Launch Capital, AVNM Ventures and Navyug Global Ventures, along with existing backer All In Capital.
The company plans to use the fresh capital to broaden its offerings beyond digital collections and develop recovery infrastructure for lenders. It also intends to expand its technology-enabled solutions for recovering financed devices.
Established in 2022 by Rishav Dokania, Arpit Bajpai, Ishan Sharma and Kishor Chabbadiya, RocketPay provides lenders with automated collections solutions through technologies such as Account Aggregator, NACH and UPI Autopay. Its platform also enables lenders to remotely lock and unlock financed Android devices.
The company claims to have achieved a tenfold increase in revenue between FY24 and FY26. It is targeting an annualised revenue run rate of Rs 100 crore by FY28. Its technology is currently used by lenders with assets under management (AUM) ranging from Rs 300 crore to Rs 16,000 crore.
RocketPay is an authorised APAC partner of Trustonic and has access to its Device Lock Controller technology, which facilitates device-level locking for financing programmes.
The company’s expansion plans come ahead of the RBI framework governing device locking as a collateral enforcement mechanism for mobile loans, which is set to come into effect on January 1, 2027.
According to RocketPay, more than 85 million devices are purchased through EMI financing in India each year. The segment is projected to grow at a compound annual growth rate (CAGR) of 10–12% between FY26 and FY30.
