Bengaluru-based fintech startup RocketPay has secured Rs 10 Cr in a funding round led by Sandeep Jain and Group, with participation from IPV, LetsVenture, Launch Capital, AVNM Ventures, Navyug Global Ventures and existing investor All In Capital.
Founded in 2022, RocketPay provides digital collections infrastructure to lenders, helping automate repayments and improve recovery processes. The fresh capital will support its expansion into technology-enabled loan recovery, including solutions for financed mobile devices.
The funding comes as lenders increasingly look for ways to improve repayment efficiency while managing the operational costs and compliance requirements associated with digital lending.
- RocketPay Expands Beyond Digital Collections
RocketPay was founded by Rishav Dokania, Arpit Bajpai, Ishan Sharma and Kishorkumar Chabbadiya. Its platform helps lenders automate recurring collections through payment systems such as UPI AutoPay and the National Automated Clearing House (NACH).
The company also offers automated payment retries, reconciliation and analytics, alongside remote locking and unlocking capabilities for financed Android devices.
RocketPay's expansion strategy focuses on moving beyond payment collection towards a broader recovery infrastructure layer. By combining repayment automation with technology-enabled recovery, the startup aims to help lenders manage missed payments and financed assets through a more integrated platform.
The company says its customers include lenders with assets under management ranging from Rs 300 crore to Rs 16,000 crore.
- Revenue Grows 10x as RocketPay Targets Rs 100 Cr
RocketPay reported a 10 fold increase in revenue between FY24 and FY26, according to the company. It is targeting an annualised revenue run rate of Rs 100 Cr by FY28.
The target represents an ambitious growth milestone, although the company has not disclosed the revenue base from which it recorded the reported increase or provided independently verified financial statements alongside the announcement.
RocketPay is also an authorised Asia Pacific partner of Trustonic, giving it access to the latter's Device Lock Controller technology for financed-device programmes.
- RBI's 2027 Rules Put Device Recovery in Focus
RocketPay's expansion comes ahead of the Reserve Bank of India's revised loan-recovery directions, scheduled to take effect on January 1, 2027. The framework permits technology-based restrictions only in specified circumstances involving devices financed by the lender, subject to contractual requirements, borrower notices and safeguards. It does not permit lenders to disable unrelated devices simply to recover other loans.
The rules also require a gradual approach to restrictions and protect essential functions, including incoming calls, SMS and emergency services.
For lenders financing smartphones and other mobile devices, these requirements make compliant technology and clear recovery processes increasingly important. However, device locking is not a substitute for responsible lending or borrower protection.
RocketPay's opportunity lies in helping lenders connect repayment automation with compliant recovery workflows. Its ability to scale will depend on lender adoption, reliable technology and adherence to the regulatory framework as it comes into force.
