Rupifi Raises $25 Million Series A From Bessemer, Tiger Global

Rupifi aims to bolster its product suite to create fully digital, integrated and real-time solutions for SMEs

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Rupifi, a fintech company operating in the B2B Payments space through its B2B Buy Now Pay Later (BNPL) and SME-focused Commercial Card products, has raised a $25 Mn Series A round led by 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 investment round within a span of 9 months, since its Pre-Series A in March 2021.

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Speaking about the round, Anubhav Jain, co-founder and CEO, Rupifi said, “We are super 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 the Digital B2B Marketplaces in mid 2020 and has seen explosive growth, the company claimed in a statement, while adding that despite the subdued economic activity, Rupifi has managed to record 50 per cent MoM growth in disbursals in the last 12 months while covering more than 50,000 SMEs.

Talking about their investment in Rupifi, Vishal Gupta, Managing Director, 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 with Technology being the future to solve these and 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 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.

For SMEs, Rupifi offers fully digital touchpoints and real-time decisioning throughout the lifecycle – onboarding, application decisioning, real-time transaction and repayment reconciliations. Similarly, marketplaces and financial institutions integrate deeply with Rupifi’s platform using easy to use APIs and SDKs. With increasing acceptance and demand for B2B payment and credit solutions, Rupifi aims to bolster its product suite to create fully digital, integrated and real-time solutions which meet the end-to-end B2B transactions and payments requirements of SMEs. Rupifi will continue to leverage analytics and data-based insights, which will form the backbone for improving credit-decisioning and SME experience.

“The Rupifi team has demonstrated the strength of their proposition by onboarding top tier platforms and rapidly scaling-up SME transactions in just a few months since our initial investment. B2B transactions is a huge opportunity in India and we are delighted to welcome global leaders like Bessemer and Tiger to support Rupifi get to the next level”, said Krishnan Neelakantan, Managing Partner at Ankur Capital.

S Shanthi

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Shanthi specializes in writing sector-specific trends, interviews and startup profiles. She has worked as a feature writer for over a decade in several print and digital media companies. She is also a mom who looks forward to playing a game of cards with her tween daughter every evening after work.