Rupicard is a VC backed fintech start-up. We aim to be the de facto “100% guaranteed UPI credit card” and give the next 100M Indians their ‘first credit card’. Access to credit on UPI can quickly take a higher wallet share of daily spendings. Over time, it can also unlock an increment in the propensity for consumption, in an otherwise savings-led psyche of Indians.
To achieve this in the most responsible way, we are providing secured credit cards on the Rupay network in partnership with the bank. A customer will be able to book an FD digitally on our app and get an instant credit card, without any need for income proofs or bureau checks. Over time we will look to graduate the users from secured to unsecured cards, depending on their credit behavior.
Target Segment
We are looking to target the traditionally underserved segment:
- Self-employed (60M+)
- New to credit (200M+)
- sub-720 credit score (100M+)
- Tier-2 cities and beyond
Salient features
- Completely digital onboarding on our mobile app
- Instant virtual card issuance; physical card delivery within 5-7 days
- No income proofs or credit history required
- Card controls and lifecycle management through the mobile app
Founder’s Profile:
- Rakshit Agarwal, An IIT Madras and IIM Ahmedabad Alumni; Worked with PE firms such as Warburg Pincus, KKR before founding Arthvit
- Sanchit Bansal, An IIT Delhi and IIM Ahmedabad Alumni; Worked with Amazon before founding Arthvit.