Fintech Rupify raises USD 25 Million led by Bessemer & Others
Led by Bessemer Venture Partners and Tiger Global, digital payments startup focused on business-to-business payments, Rupify has raised USD 25 million as a part of its first round of institutional funding.
Along with Silicon Valley-based early-stage investor, Better Capital, existing investors Quona Capital and Ankur Capital also participated in the round.
The company will use the funds to launch omnichannel mobile-first B2B payments solutions for merchants, distributors and sellers as well as to build the complete B2B checkout product for marketplaces.
After the company raised USD 4.1 million led by Quona Capital in March 2021, the Series A marks Rupifi’s second investment within 9 months.
Founded in 2020, to enable low-friction credit for their merchant partners at the point-of-sale stage, Rupify’s technology platform brings B2B marketplaces such as Flipkart Wholesale, Retail and Fund together with financial institutions.
“With this current investment from Bessemer Venture Partners and Tiger Global, we plan to build further towards our goal of disrupting B2B payments and transactions, Our B2B BNPL (Buy Now Pay Later) is currently operating at some of the category-leading B2B marketplaces in India across sectors such as FMCG, Pharma, Fashion, Electronics, Agriculture and Food, said Anubhav Jain, co-founder and chief executive officer (CEO) of Rupifi.
Without any cost for shorter periods, Rupifi’s other product lines include an SME focused commercial card which provides SMEs flexibility to manage expenses. More than 50,000 SME partners are covered by Rupifi’s solution at present.
Along with Silicon Valley-based early-stage investor, Better Capital, existing investors Quona Capital and Ankur Capital also participated in the round.
The company will use the funds to launch omnichannel mobile-first B2B payments solutions for merchants, distributors and sellers as well as to build the complete B2B checkout product for marketplaces.
After the company raised USD 4.1 million led by Quona Capital in March 2021, the Series A marks Rupifi’s second investment within 9 months.
Founded in 2020, to enable low-friction credit for their merchant partners at the point-of-sale stage, Rupify’s technology platform brings B2B marketplaces such as Flipkart Wholesale, Retail and Fund together with financial institutions.
“With this current investment from Bessemer Venture Partners and Tiger Global, we plan to build further towards our goal of disrupting B2B payments and transactions, Our B2B BNPL (Buy Now Pay Later) is currently operating at some of the category-leading B2B marketplaces in India across sectors such as FMCG, Pharma, Fashion, Electronics, Agriculture and Food, said Anubhav Jain, co-founder and chief executive officer (CEO) of Rupifi.
Without any cost for shorter periods, Rupifi’s other product lines include an SME focused commercial card which provides SMEs flexibility to manage expenses. More than 50,000 SME partners are covered by Rupifi’s solution at present.
