Digital Payment startup Rupifi raises $25 million as a part of institutional round of funding
- ByTejika Bajaj | January 7, 2022
Digital payment platform Rupifi has recently announced that it has raised $25 million as a part of its first round of institutional funding led by Bessemer Venture Partners and Tiger Global. The round also saw participation from existing investors such as Quona Capital and Ankur Capital along with Silicon Valley-based early-stage investor, Better Capital.
Rupifi’s Series A funding of $25 million signals the increasing size of early-stage rounds being raised by Indian startups. This is Rupifi’s second investment round within a span of nine months after the company raised $4.1 million led by Quona Capital in March 2021.
Rupifi intends to deploy the proceeds from a fresh funding round to build a complete B2B checkout product for marketplaces as well as to launch omnichannel mobile-first B2B payments solutions for merchants, distributors and sellers.
“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,” expressed Anubhav Jain, co-founder and chief executive officer (CEO) of Rupifi when asked about the recent round of funding.
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.
Follow Startup Story
Related Posts
