Cross-border payments platform, BRISKPE, has raised $5 million in a seed round from PayU, the payments and fintech business of Prosus. BRISKPE will use the funding to enhance its product and service offerings, expand its team and scale up its reach to enable more Indian businesses to set off on their global journey with seamless cross-border payments.

Launched in 2023, BRISKPE was designed to meet the requirements of micro, small and medium enterprises (MSMEs) and help them reduce costs, streamline global operations and boost their global competitiveness.

Collaborations and partnerships

As per the Mumbai-based fintech company, they have a customer base of more than 1000 exporters and have collaborated with Yes Bank to facilitate transactions in over 36 foreign currencies across more than 180 countries. The company works within the framework of RBI’s OPGSP and has a money services business (MSB) licence from FINTRAC in Canada.

“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,” said Sanjay Tripathy, Co-Founder and CEO of BRISKPE.

Also read: Early-stage investments saw lowest deal volume in four years in CY23: InnoVen Capital

According to a statement by the company, BRISKPE is on a mission to level the playing field for local businesses by simplifying global payments, making them cost-efficient, faster and hassle-free, while ensuring robust tracking and compliance.

Vijay Agicha, Chief Investment Officer at PayU, said, “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.”

(Inputs from bl intern Vidushi Nautiyal)

Related Topics
comment COMMENT NOW