Rupifi raises $25 million in Series A funding round

BL Bengaluru Bureau | | Updated on: Jan 07, 2022
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Bessemer Venture Partners and Tiger Global participated in the round

Fintech start-up Rupifi has raised a $25 million Series-A round from Bessemer Venture Partners and Tiger Global.

Existing Investors Quona Capital and Ankur Capital also participated in this round, along with Better Capital.

Founded in 2020 by Anubhav Jain, Ankit Singh and Jawaid Iqbal, this is Rupifi’s second fundraise within a span of nine months, since its Pre-Series A in March 2021.

Anubhav Jain, Co-Founder and CEO of Rupifi, said, “We are thrilled to welcome two of the largest global investors onboard. 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 is currently operating at some of the category-leading B2B marketplaces in India across sectors such as FMCG, pharma, fashion, electronics, agriculture and food. Our SME-focused Commercial Card provides SMEs flexibility to manage expenses without any cost for shorter periods. With the recent round of funding, 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.”

Rupifi started with the B2B BNPL product focusing on digital B2B marketplaces in mid-2020. The company claims to have recorded 50 per cent MoM growth in disbursals in the last 12 months while covering more than 50,000 SMEs. Rupifi works with marketplaces such as Flipkart Wholesale, Retailio and Fynd among others.

Vishal Gupta, Managing Director of Bessemer Venture Partners, said, “We are excited to back Rupifi and Anubhav in their mission to simplify B2B payments, including BNPL, for B2B marketplace and smaller merchants in a seamless way. B2B payments and B2B credit are large problems and technology is the solution. The Rupifi team is building around that, keeping the SMEs at the core.”

“We are excited to support Rupifi in their goal of disrupting B2B payments. We have had the experience of working with more than a hundred B2B and SaaS founders. We understand that globally, B2B payments are broken and largely manual. 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, talking about their investment in Rupifi.

Rupifi operates in the B2B payments space through its B2B BNPL and SME-focused commercial card products.

Published on January 07, 2022

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