Fintech is bucking the broader funding caution. Moneycontrol reports that at least three more fintech rounds are taking shape this week: Vegapay, PowerUp Money and Rovia are all stitching together fresh funding, adding to the deal conversations already swirling around Oolka, Kiwi and others.
Vegapay is in advanced talks to raise $15–20 million from Prosus and existing investors Elevation Capital, Eximius Ventures and Vertex Ventures, at a valuation of $80–100 million — a 3–4x jump from its ~$25 million valuation in 2024. Founded in 2022 by Gaurav Mittal, Himanshu Agrawal, Puneet Sharma and Abhinav Garg, the startup builds a lending-tech stack and card-management system for regulated entities and fintechs. This would be Prosus' third fintech bet in a month, after a $100 million bet on Navi and a $10 million investment in Bachatt.
PowerUp Money, a mutual-fund advisory wealthtech backed by Accel, Peak XV Partners, Blume and Kae Capital, is in talks to raise around $10 million from Flourish Ventures at $75–85 million. Flourish — spun out of Omidyar Network in 2019 — counts M2P Fintech, SalarySe and Scripbox among its India portfolio.
Rovia, founded in 2025 by Shivang Badaya and Arnav Grover, is raising $5–6 million from SIG's venture arm at $20–25 million to build wealth-tech for employees with equity compensation, starting with RSUs and stock plans for international tech professionals.
None of the three rounds is closed yet — but with at least seven fintech deals taking shape in recent weeks, the sector is clearly one of the most active pockets of Indian startup dealmaking.
Why it matters for founders
Fintech capital is flowing to infrastructure and advisory, not consumer lending alone: card issuance stacks, mutual-fund guidance, equity-comp management. If you're building fintech, the current investor thesis rewards picks-and-shovels products that serve regulated entities — the least crowded, most defensible corner of the market.