Rupifi Raises $8 Million Venture Debt From Alteria Capital, Trifecta Capital And Innoven Capital
The fund raised is an extension of $25M Series A round that Rupifi announced in January 2022.
Rupifi, on Tuesday, announced to have raised $8 million venture debt led by Alteria Capital, Trifecta Capital, and Innoven Capital. The fund raised is an extension of $25 million Series A round that Rupifi announced in January 2022.
"The focus on building end-to-end B2B payment solutions will enable us to expand beyond digital marketplaces and cater to the requirements of the traditional and mainstream B2B supply chains where the processes and transactions are still offline. Addressing the needs of the offline segments will help us take a step ahead towards our goal of disrupting the B2B payments and transactions ecosystem in India," said Anubhav Jain, co-founder and CEO, Rupifi.
Started as a B2B buy-now-pay-later product focusing on the digital B2B marketplaces in mid-2020, Rupifi's B2B buy-now-pay-later is operating at some of the category-leading B2B marketplaces with some marquee names such as Flipkart Wholesale, Retailio, and Fynd among others in India across sectors such as FMCG, pharmaceuticals, fashion, electronics, agriculture and food with over 24 online market places catering to 70,000 small businesses. Witnessing 50 per cent month-on-month growth in disbursals in the last 12 months, Rupifi's solutions are finding increasing acceptance amongst small and medium enterprises especially when it comes to needs like flexible payment terms, shorter-term credit for transaction closure, and high-frequency credit needs at low cost. Rupifi also provides easy-to-use APIs and SKDs that integrate deeply with marketplaces and financial institutions, creating a seamless experience for all stakeholders.