BRISKPE Secures $5 Million Seed Funding from PayU to Revolutionize Cross-Border Payments for Indian MSMEs

• ByStartupStory     |    April 29, 2024

Mumbai-based BRISKPE has secured a $5 million seed investment from PayU, the fintech arm of global conglomerate Prosus. This funding aims to enhance BRISKPE’s product offerings, expand its team, and increase its operational footprint, facilitating smoother and more economical cross-border transactions for Indian businesses.

As Indian MSMEs contribute over 45% to the nation’s exports, they play a pivotal role in driving economic innovation and growth. However, they often grapple with high transaction fees and fluctuating exchange rates, challenges that BRISKPE is dedicated to addressing. By reducing transaction costs and mitigating exchange rate volatility, the platform ensures that Indian exporters can navigate international markets more effectively.

Sanjay Tripathy, Co-Founder and CEO of BRISKPE, expressed his enthusiasm about the new partnership, stating, “PayU’s investment in BRISKPE aligns with our shared mission to reshape global payments for small businesses. This partnership represents a pivotal stride in simplifying cross-border transactions for MSMEs, enabling them to scale globally. At BRISKPE, we are committed to bridging the gap between domestic and international trade, empowering local businesses with our innovative solutions to thrive globally.”

Vijay Agicha, Chief Investment Officer at PayU, also commented on the strategic investment, highlighting the mutual benefits. “BRISKPE’s alignment with our cross-border payment strategy and focus on compliance highlights a symbiotic partnership. With BRISKPE’s top-notch management team expertise in digital-first business models and banking systems, we’re excited to actively participate in shaping their future growth. We’re optimistic about the potential in cross-border payments and remain committed to driving economic growth in India.”

BRISKPE, led by a team of industry veterans including CEO Sanjay Tripathy (Ex HDFC Life CMO), CPTO Nilesh Pathak (Ex NIUM CTO), and COO Indunath Chaudhary (Ex Citi and ICICI Bank), has rapidly become a key player in the cross-border payment sector. With over 1000 exporters in its customer base, BRISKPE is set on democratizing global trade practices, ensuring they are as straightforward as domestic transactions.

“At BRISKPE, we’re leveling the playing field for local businesses. We envision a future where international trade is as simple as local commerce, empowering every Indian business to thrive globally,” added Tripathy, emphasizing the company’s commitment to its vision.

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