RocketPay Raises ₹10 Cr to Expand Digital Collections and Device Recovery

RocketPay, a digital collections infrastructure platform serving lenders, has raised ₹10 crore in a funding round led by Sandeep Jain and Group. The round also included participation from IPV, LetsVenture, Launch Capital, AVNM Ventures and Navyug Global Ventures, alongside existing investor All In Capital.

Founded in 2022, RocketPay develops technology to help lenders automate digital collections and manage recovery processes. The company plans to use the fresh capital to expand beyond digital collections into broader recovery infrastructure for lenders, including technology-enabled recovery of financed devices.

The funding comes as RocketPay looks to build on its reported revenue growth and expand its services in India's lending and device-financing markets.

RocketPay's Digital Collections Platform

RocketPay was founded by Rishav Dokania, Arpit Bajpai, Ishan Sharma and Kishor Chabbadiya. Its platform helps lenders automate collections through digital payment and banking infrastructure, including Account Aggregator, National Automated Clearing House (NACH) and UPI Autopay.

These tools support recurring payments and digital collection workflows, helping lenders manage repayments across their customer base.

RocketPay serves lenders with assets under management ranging from ₹300 crore to ₹16,000 crore, according to the company. This indicates that its platform caters to financial institutions of varying sizes within the lending market.

The company's next phase of growth will focus on extending its capabilities beyond payment collection to support recovery operations, including the management of financed devices.

Expansion Into Financed Device Recovery

A key part of RocketPay's expansion strategy is technology-enabled recovery of devices purchased through financing arrangements.

The company offers remote locking and unlocking capabilities for financed Android devices. These tools can support device-financing programmes by enabling device-level controls under applicable arrangements.

RocketPay is an authorised Asia-Pacific partner of Trustonic and has access to its Device Lock Controller technology, which enables device-level locking for financing programmes.

The planned expansion builds on this existing capability. By combining digital collections with device-related recovery infrastructure, RocketPay aims to serve lenders across more stages of the repayment and recovery process.

The company has not disclosed a detailed revenue breakdown between its collections platform and device-related services.

Revenue Growth and Expansion Targets

RocketPay claims that its revenue increased tenfold between FY24 and FY26. It also aims to reach an annualised revenue run rate of ₹100 crore by FY28.

These figures represent company-reported performance and targets. The supplied announcement does not provide the underlying revenue figures for FY24 and FY26 or independently verified financial statements.

The new funding is expected to support the company's product expansion and its efforts to increase adoption among lenders.

Its existing customer base includes lenders with assets under management between ₹300 crore and ₹16,000 crore. The company is positioning its infrastructure to address collections and recovery requirements across this segment.

India's Device-Financing Market

RocketPay's expansion comes amid continued demand for consumer electronics purchased through instalment-based financing.

According to the company, more than 85 million devices are sold through equated monthly instalment (EMI) arrangements annually in India. It also estimates that the market will grow at a compound annual growth rate of 10-12% between FY26 and FY30.

This market creates an opportunity for technology providers serving lenders that finance smartphones and other Android devices. Alongside repayment collection, lenders may need systems that support their financing programmes and associated recovery processes.

RocketPay's combination of payment infrastructure and device-level controls is intended to address these requirements. However, the company's estimates of market size and growth are attributed to the supplied announcement and have not been independently verified here.

Regulatory Context for Device Locking

RocketPay's planned expansion comes ahead of an RBI framework concerning device locking as a collateral-enforcement tool for mobile loans. The supplied announcement states that the framework is scheduled to take effect on January 1, 2027.

This regulatory context is relevant to companies developing technology for device-financing and recovery programmes. However, the announcement does not provide the framework's detailed provisions, implementation requirements or the conditions under which device locking may be permitted.

Accordingly, the scheduled date and regulatory implications should be understood in the context of the company's announcement rather than as a complete account of the applicable rules.

Investors Back RocketPay's Next Phase

The ₹10 crore round was led by Sandeep Jain and Group, with participation from IPV, LetsVenture, Launch Capital, AVNM Ventures and Navyug Global Ventures. Existing investor All In Capital also participated.

The capital will support RocketPay's move from digital collections into broader recovery infrastructure, including technology-enabled recovery of financed devices.

For lenders, these capabilities could help connect payment collection workflows with additional tools used in financing and recovery operations. RocketPay's ability to execute its expansion plans and achieve its FY28 revenue target will be important milestones to watch.