Rupifi, a digital payments startup, announced it has raised $25 million as a part of its first round of institutional funding led by Bessemer Venture Partners and Tiger Global, according to ETtech report.
Existing investors Quona Capital and Ankur Capital also participated in the current funding round, along with early-stage investor Better Capital.
Rupifi now plans to use the proceeds from the fundraise to build the complete B2B checkout product for marketplaces as well as launch omnichannel mobile-first B2B payments solutions for merchants, distributors and sellers, the statement said.
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.
“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,” said Anubhav Jain, cofounder and chief executive officer (CEO) of Rupifi.
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