RocketPay raises ₹10 Cr for lender recovery tools
By Abha Lohia ·
- RocketPay gives lenders digital loan collection tools built on account data, bank mandates and UPI autopay payments
- It raised ₹10 crore from Sandeep Jain and Group, with several funds joining and an existing backer adding more
- The money goes into recovery services and tech-based recovery of financed phones before new device-locking rules start in 2027
What happened
- RocketPay raised ₹10 crore.
- Sandeep Jain and Group led the round.
- IPV, LetsVenture, Launch Capital, AVNM and Navyug joined.
- Existing backer All In Capital also took part.
Why it matters
- Funds a move from collections into recovery.
- Targets recovery of financed devices.
- An RBI framework on device locking starts on 1 January 2027.
The business
- Automates loan collections for lenders.
- Uses Account Aggregator, NACH and UPI Autopay tools.
- Offers remote lock and unlock of financed Android phones.
- Serves lenders with assets from ₹300 crore to ₹16,000 crore.
- Is the APAC partner of a device-lock technology provider.
The founders
Who put in money
- Sandeep Jain and Group Lead
In numbers
10xRevenue growth FY24-FY26
₹100 CrRevenue run-rate target · FY28
85M+Devices sold on EMI yearly · 2026
What happens next
- Aims for ₹100 crore annual run-rate by FY28.
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