RocketPay raises Rs 10 crore from Sandeep Jain for lender collections tech
RocketPay, a digital collections infrastructure platform for lenders, has raised Rs 10 crore in a funding round led by Sandeep Jain and Group.
The round saw participation from IPV, LetsVenture, Launch Capital, AVNM Ventures, and Navyug Global Ventures, alongside existing investor All In Capital.
Founded in 2022 by Rishav Dokania, Arpit Bajpai, Ishan Sharma, and Kishor Chabbadiya, RocketPay helps lenders automate collections through tools such as Account Aggregator, NACH, and UPI Autopay.
Its platform also offers remote locking and unlocking of financed Android devices.
The fresh capital will support RocketPay's expansion from digital collections into recovery infrastructure for lenders. The company also plans to expand into technology-enabled recovery of financed devices.
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The firm claims a 10x increase in revenue between FY24 and FY26 and aims to reach an annualised revenue run rate of Rs 100 crore by FY28.
RocketPay is Trustonic's authorised APAC partner and has access to its Device Lock Controller technology, which enables device-level locking for financing programmes.
The expansion 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.
According to the company, more than 85 million devices are sold on EMIs annually in India, with the market expected to grow at a 10-12% CAGR between FY26 and FY30.
Its platform is used by lenders with assets under management ranging from Rs 300 crore to Rs 16,000 crore.
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