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B2B fintech platform Rupifi raises $25 mn to boost BNPL biz

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New Delhi, Jan 7 (IANS) B2B fintech payments platform Rupifi on Friday said it has raised $25 million in its Series-A round led by Bessemer Venture Partners and Tiger Global.

The platform operates in the B2B payments space through its buy now pay later (BNPL) and SME-focused commercial card products.

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Despite the subdued economic activity, Rupifi managed to record 50 per cent (on-month) growth in disbursals in the last 12 months while covering more than 50,000 SMEs, the platform said in a statement.

“With this current investment, we plan to build further towards our goal of disrupting B2B payments and transactions. Our B2B BNPL 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 CEO of Rupifi.

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“We are now moving towards building the complete B2B checkout product for marketplaces and omni-channel mobile-first B2B payments solutions for merchants, distributors and sellers,” he added.

Existing investors Quona Capital and Ankur Capital also participated in the funding round, along with Better Capital.

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Founded in 2020 by Jain, Ankit Singh and Jawaid Iqbal, this is Rupifi’s second investment round within a span of nine months, since its Pre-Series A in March last year.

The platform is working with marketplaces such as Flipkart Wholesale, Retailio and Fynd, among others.

“In the $1 trillion B2B commerce and payments space in India, Rupifi has demonstrated rapid growth and proven product leadership”, said John Curtius from Tiger Global.

–IANS

na/

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