Bengaluru-based financing platform for micro, small and medium enterprises (MSME), Inasmuch as Bessemer Venture PartnersInasmuch as and Inasmuch asGlobal Tiger ManagementInasmuch as.raised $ 25 million in Series A led by
Existing investors Inasmuch asCapital QuonaInasmuch as and Inasmuch asAnkur CapitalInasmuch as also participated in this cycle with Inasmuch asBest capitalInasmuch as.
Founded in 2020 by Anubhav Jain, Ankit Singh and Jawaid Iqbal, This is Rupifi’s second round of investment in the space of nine months, since its Pre-series A in March 2021.
Anubhav Jain, co-founder and CEO of Rupifi, During a conversation with YourStory, the startup has so far raised $ 30 million, including the current round.
Operating in the B2B Payments area through its B2B Buy now Pay later (BNPL) and Small Business-Focused Commercial Card Products, Rupifi will use the new funds to move towards creating a comprehensive B2B payment product for marketplaces and omnichannel mobile B2B payment solutions for merchants, distributors and sellers, ”he added.
Speaking of the round, Anubhav jain said: “We are delighted to welcome two of the world’s largest investors on board. With this current investment from Bessemer Venture Partners and Tiger Global, we plan to move further towards our goal of disrupting payments and B2B transactions. Our BNPL B2B currently operates in some of the leading B2B marketplaces in India in industries such as FMCG, Pharmaceuticals, Fashion, Electronics, Agriculture and Food. Our SME-focused business card gives SMEs the flexibility to manage their expenses at no cost for shorter periods. ”
“With the recent round of funding, we are now moving towards creating a complete B2B payment product for marketplaces and omnichannel B2B payment solutions for merchants, distributors and sellers.” he added.
Speaking of their investment in Rupifi, Vishal Gupta, Managing Director of Bessemer Venture Partners noted,
“We are delighted to support Rupifi and Anubhav in their mission to simplify B2B payments, including BNPL for the B2B marketplace and small merchants in a transparent manner. B2B payments and B2B credit are big problems, technology being the future to solve them and the Rupifi team is building around this by keeping SMEs at the heart ”.
“We have had the experience of working with over a hundred B2B and SaaS founders. We understand that globally B2B payments are interrupted and largely manual. In India’s $ 1 trillion B2B commerce and payments space, Rupifi has demonstrated rapid growth and proven product leadership, ”said John Curtius of Tiger Global.
“The Rupifi team has demonstrated the strength of its proposition by integrating leading platforms and rapidly developing SME transactions in just a few months since our initial investment. B2B transactions are a huge opportunity in India and we are delighted to welcome global leaders like Bessemer and Tiger to help Rupifi take it to the next level, ”added Krishnan Neelakantan, Managing partner at Ankur Capital.
“B2B transactions and payments are a very fragmented process in India. Rupifi’s integrated technology-driven solution solves these bottlenecks and unlocks value for small businesses. Rupifi’s solution is increasingly accepted and adopted by leading B2B markets and their ecosystems. We are delighted to continue to support the Rupifi team in its next stage of growth, ”said Varun Malhotra from Capital Quona.