Digital B2B fintech Company Rupifi has raised $8 Mn venture debt from Alteria Capital, Trifecta Capital, and Innoven Capital.
The startup will use the funds to increase penetration and plug the gaps in the large manual B2B payments and strengthen the startup’s B2B checkout products and create an omni-channel mobile-first B2B payments solution.
Anubhav Jain, co-founder, and CEO, Rupifi, said, “We have witnessed increased adoption of B2B BNPL among SMEs and identified varied use cases for B2B payments across sectors in the last few months. The focus on building end-to-end B2B payment solutions will enable us to expand beyond digital marketplaces and cater to requirements of the traditional and mainstream B2B supply chains where the processes and transactions are still offline.
Bengaluru-based B2B fintech startup Rupifi was founded in 2020 by Anubhav Jain, Ankit Singh, and Jawaid Iqbal, it is an embedded finance startup that offers B2B BNPL (Buy Now Pay Later) and Small and Medium Enterprises (SME)-centric commercial cards. The startup allows its customers to integrate payment gateways on its marketplace with various options.
The company’s B2B BNPL is currently present in some of the leading B2B marketplaces like Flipkart Wholesale, Retailio, Find, and others. Over 24 online marketplaces in India cater to 70,000 small businesses in sectors such as FMCG, pharma, fashion, electronics, agriculture, and food.
In January this year, Rupifi raised $25 million in a Series A funding round led by Bessemer Venture Partners and Tiger Global.