Mumbai-based startup Fundly.ai has secured $4.9 million in equity and debt funding led by Accel and Multiply Ventures. The capital will support the expansion of its integrated B2B pharmaceutical procurement, credit, and payment infrastructure across India. While the company has shown strong revenue growth, it remains focused on scaling its platform as it manages credit risks in the fragmented drug supply chain.
Mumbai-based B2B pharmaceutical platform Fundly.ai has successfully closed a $4.9 million funding round, signaling continued investor interest in the digitisation of the Indian drug supply chain. The capital infusion consists of $4 million in equity and $0.9 million in venture debt. The round was led by existing investors Accel and Multiply Ventures, with participation from notable angel investors, including former RBL Bank executive director Rajeev Ahuja.
Founded in 2021, Fundly.ai has transformed from a supply-chain finance provider into a full-stack operating system for the pharmaceutical industry. The platform provides a unified digital interface that helps retail pharmacies and distributors manage procurement, streamline payments, and access working capital. By embedding financial services directly into the purchasing process, the company aims to reduce the friction often found in the traditional, fragmented pharmaceutical trade network.
Financial Growth and Operational Scale
The company has reported significant financial growth, with revenue reaching ₹274 million in the 2025 fiscal year, a sharp rise from ₹53 million in FY2024. As of September 2026, the platform connects over 4,100 retailers and distributors across more than 24 cities. The company has facilitated over ₹1,093 crore in disbursements, highlighting the scale of its credit-driven model.
Despite this rapid expansion, Fundly.ai remains EBITDA-negative, as is common for early-stage startups that prioritise growth and market penetration over immediate profitability. Investors should note that because Fundly.ai is a private company, its shares are not traded on the National Stock Exchange (NSE) or the Bombay Stock Exchange (BSE), and there is no public market valuation or live stock price tracking available.
Business Risks and Monitorables
The business model relies heavily on facilitating credit for pharmaceutical retailers and distributors. This inherently exposes the company to credit and default risks within the supply chain, where payment cycles can often be unpredictable. Furthermore, as the company operates in a competitive B2B SaaS and fintech environment, its long-term viability will depend on its ability to maintain healthy margins while scaling its operations.
Looking ahead, the primary focus for the company will be the deployment of the new capital to standardize its digital architecture and increase its geographic footprint. Key monitorables for observers include the company's ability to manage its loan book quality, reduce its dependence on capital burn for growth, and successfully navigate the complexities of the unorganised pharmaceutical retail market.