Agentic AI startup RevRag.AI has raised $2.5 million (about ₹24 crore) in a seed funding round led by Accion Ventures. Cedar Hill Capital, Wyser and Venture Catalysts also backed the round.
Founded in 2023 by Ashutosh Singh, Neeraj Gupta and Pankaj Gupta, RevRag started as a savings-oriented fintech before pivoting in early 2025 to a SaaS platform. It now builds autonomous AI agents that act as in-app virtual relationship managers inside banks' and fintechs' apps — streamlining onboarding, product sales, support and real-time multilingual assistance.
The startup says its agents can cut costs by up to 70 per cent compared with traditional channels, while lifting conversion in segments where users lack trust in digital systems or need help with financial terminology and English interfaces. It already serves more than 45 customers across India, including PhonePe, Razorpay, Bajaj Finance, Motilal Oswal and IIFL.
The fresh capital will accelerate product development — including fine-tuning its own multimodal small language models to bring more of the tech stack in-house — and fund expansion into the US market. RevRag earlier raised $1 million from Powerhouse Ventures and angel investors including WhatsApp's Kunal Shah.
Why it matters for founders
AI in Indian fintech is shifting from chatbots to autonomous agents embedded in the product — RevRag's traction with 45+ lenders shows the model is already earning its keep.