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.
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.
“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.
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.