B2B pharma platform Fundly.ai raises $4 million to expand commerce, payments and credit business

Mumbai-based B2B pharma platform Fundly.ai has raised $4.9 million in a funding round led by existing investors Accel and Multiply Ventures.

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The round also included former RBL Bank executive director Rajeev Ahuja and a group of angel investors. Of the total $4.9 million, $900,000 was raised in venture debt from Alteria Capital.

Founded in 2021 by Amit Chawla and Shreeram Ramanathan, Fundly was initially focused on providing financing to pharmaceutical retailers and distributors.

“We started lending because that was the pain which surfaced first,” Chawla, Fundly’s founder and CEO, said.

“We started with vertical supply chain finance, but as we understood pharma better, we realised there was a huge amount of trade flowing through the sector, but there was no digital spine,” he added.

Fundly now describes its business around three areas, credit, commerce and payments, aimed at helping pharmaceutical businesses procure stock, access working capital and manage transactions through an integrated platform.

Its commerce service, FundlyMart, allows retailers to buy pharmaceutical products from distributors. Chawla said the startup has sought to integrate credit into the purchasing process rather than offer lending as a separate service.

Fundly said its commerce, payments and credit products are designed to work together as part of a broader digital system for pharmaceutical retailers and distributors.

The startup has also been developing payments infrastructure to help distributors manage collections, payouts and reconciliation. It is currently piloting its payments and settlement system in Pune, where it has about 3,000 retailers and works with several distributors.

Fundly claims it currently works with about 3,000 distributors and operates across 48 cities.

According to media reports, the company generated revenue of about Rs 30.1 crore in FY25, up from Rs 6.6 crore in the previous financial year, while net loss widened to about Rs 11 crore in FY25 from Rs 5.8 crore a year earlier.

The fresh funding will be used to expand Fundly’s commerce, payments and credit operations across India’s pharmaceutical supply chain.

It previously raised $3 million in seed funding in 2023 in a round led by Accel, with participation from Multiply Ventures and angel investors.