B2B payments fintech Rupifi secures $25 million led by Bessemer, Tiger Global By CIOReviewIndia

B2B payments fintech Rupifi secures $25 million led by Bessemer, Tiger Global

CIOReviewIndia | Friday, 07 January 2022, 05:54 IST

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Digital payments startup focused on business-to-business payments, Rupifi has raised $25 million as a part of its first round of institutional funding led by Bessemer Venture Partners and Tiger Global.

Existing Investors Quona Capital and Ankur Capital also participated in the round, along with Silicon Valley-based early-stage investor, Better Capital.

The company now plans to use the proceeds from the fundraise to build the complete B2B checkout product for marketplaces as well as launch omni-channel mobile-first B2B payments solutions for merchants, distributors and sellers.

The Series A marks Rupifi’s second investment within a span of 9 months after the company raised $4.1 million led by Quona Capital in March 2021.

Founded in 2020, Rupifi’s technology platform brings B2B marketplaces such as Flipkart Wholesale, Retailio and Fynd together with financial institutions to enable low-friction credit for their merchant partners at the point-of-sale stage.

“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, cofounder and chief executive officer (CEO) of Rupifi.

Rupifi’s other product lines include a SME focused commercial card which provides SMEs flexibility to manage expenses without any cost for shorter periods.

At present, Rupifi’s solution covers more than 50,000 SME partners.

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