B2B Payments Fintech Rupifi secures $ 8M venture debtin extension of Series-A
Speaking about the round, Anubhav Jain, Co-Founder and CEO of Rupifi said, “The growing interest of investors is a testament of our strong business fundamentals and B2B payments market potential. We have witnessed increased adoption of B2B BNPL among SMEs and identified varied use cases for B2B payments across different sectors in the last few months. To further increase penetration and plug the gaps in the largely manual B2B payments, we plan to utilize the funds for further strengthening our B2B Checkout Product and creating an omnichannel mobile first B2B payments solutions. The focus on building end-to-end B2B payment solutions will enable us to expand beyond digital marketplaces and cater to the requirements of the traditional and mainstream B2B supply chains where the processes and transactions are still offline. Addressing the needs of the offline segments will help us take a step ahead towards our goal of disrupting the B2B payments and transactions ecosystem in India.”
Rupifi’s techdriven integrated solutions are addressing the challenges in the ecosystem and unlocking value for small businesses in india
The B2B payments and transactions in India and across the globe are largely manual and unorganized with small businesses, particularly SMEs, constantly facing issues across the various levels of their Transaction Life Cycle, including Invoicing, Payment Reconciliation, and Accounting. Rupifi’s tech-driven integrated solutions are addressing the challenges in the ecosystem and unlocking value for small businesses in India. Established as a B2B BNPL Product focusing on the Digital B2B Marketplaces in mid-2020, currently, Rupifi’s B2B BNPL is operating at some of the category leading B2B marketplaces with some eminent names such as Flipkart Wholesale, Retailio, and Fynd among others in India across sectors such as FMCG, Pharma, Fashion, Electronics, Agriculture and Food with over 24 online market places catering to 70,000 small businesses.
After having witnessed 50% MoM growth in disbursals in the last 12 months, Rupifi’s solutions are now finding increasing acceptance amongst SMEs especially because of flexible payment terms, shorter term credit for transaction closure, and highfrequency credit needs at low cost. Rupifi’s digital touchpoints and realtime decision making significantly enhance the life cycle of an SME on the platform by providing a seamless experience right from onboarding, application decisioning transactions, and repayment reconciliations in realtime. In addition, Rupifi also provides easy-to-use APIs and SKDs that integrate deeply with marketplaces and financial institutions thereby creating a seamless experience for all stakeholders.