Fintech start-up Rupifi has raised a funding round of $ 25 million from Bessemer Venture Partners and Tiger Global.
Existing investors Quona Capital and Ankur Capital also participated in this round, as well as Better Capital.
Founded in 2020 by Anubhav Jain, Ankit Singh and Jawaid Iqbal, this is Rupifi’s second fundraiser in nine months, since its pre-Series A in March 2021.
Rupifi Co-Founder and CEO 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 is currently operating in some of the leading B2B marketplaces of its category in India in industries such as FMCG, pharma, 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 the complete B2B payment product for marketplaces and Omni-Channel mobile B2B payment solutions for merchants, distributors and sellers.
Rupifi started with the B2B product BNPL focusing on digital B2B marketplaces in mid-2020. The company claims to have experienced 50% growth in MoM disbursements over the past 12 months while covering more than 50,000 SMEs. Rupifi works with marketplaces such as Flipkart Wholesale, Retailio and Fynd, among others.
Vishal Gupta, Managing Director of Bessemer Venture Partners, said: “We are delighted to support Rupifi and Anubhav in their mission to simplify B2B payments, including BNPL, for the B2B market and small merchants in a transparent manner. B2B payments and B2B credit are big problems and technology is the solution. The Rupifi team is built around this, keeping SMEs at the heart. ”
“We are delighted to support Rupifi in its goal of disrupting B2B payments. We have had the experience of working with more than 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, speaking about its investment in Rupifi.
Rupifi operates in the B2B payments space through its B2B BNPL and PME commercial card products.