Cross-border Payments Platform BRISKPE and Customer loyalty Startup Reelo Secure Early-Stage Funding The Indian startups listed below have disclosed their initial financing rounds.
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Cross-border Payments Platform BRISKPE Raises USD 5 Mn Funding
A cross-border payments platform, BRISKPE, has announced that it has raised USD 5 million in a seed round from PayU, the payments and fintech business of Prosus.
The Mumbai-based platform will use the funding for product development, talent acquisition, and business expansion for the cross-border payment startup, empowering Indian businesses to advance on their global journey.
Sanjay Tripathy, Co-Founder and CEO of BRISKPE, said, "PayU's investment in BRISKPE aligns with our shared mission to reshape global payments for small businesses. This partnership represents a pivotal stride in simplifying cross-border transactions for MSMEs, enabling them to scale globally. At BRISKPE, we are committed to bridging the gap between domestic and international trade, empowering local businesses with our innovative solutions to thrive globally."
Launched in 2023 by Sanjay Tripathy, Nilesh Pathak, and Indunath Chaudhary, BRISKPE is a cross-border payments platform primarily designed to meet the unique requirements of micro, small, and medium enterprises (MSMEs). Its cutting-edge technology simplifies global payments, making them cost-efficient, faster, and hassle-free while ensuring seamless access, robust tracking, and stringent compliance.
The platform claims to have a customer base of more than 1,000 exporters. "At BRISKPE, we're leveling the playing field for local businesses. We envision a future where international trade is as simple as local commerce, empowering every Indian business to thrive globally," added Tripathy.
Vijay Agicha, Chief Investment Officer at PayU, stated, "BRISKPE's alignment with our cross-border payment strategy and focus on compliance highlight a symbiotic partnership. With BRISKPE's top-notch management team's expertise in digital-first business models and banking systems, we're excited to actively participate in shaping their future growth. We're optimistic about the potential of cross-border payments and remain committed to driving economic growth in India."
Customer loyalty Startup Reelo Secures USD 1 Mn Funding
Customer loyalty and marketing automation startup Reelo announced that it has secured USD 1 million funding from Gokul Rajaram, an investor and board member at Pinterest and Coinbase.
The Ahmedabad-based startup plans to use the fresh capital to fuel hiring efforts across all departments, enhance its AI and ML capabilities to develop a personalised data-driven assistant for automating marketing tasks, and expand its footprint in both existing and new global markets.
Parin Sanghvi, Founder and CEO of Reelo, said, "Reelo is dedicated to transforming customer engagement for restaurants and retail brands. The opportunity available to them today is incredible, but the challenge is to stand out amongst the competition, especially with the rising customer acquisition costs and difficulties in retaining them. Our clients have seen 32% average revenue growth a year and found the platform to be 10x more effective than traditional marketing."
Founded in 2021 by siblings Prit and Parin Sanghvi, Reelo provides a range of marketing solutions for small and medium-sized enterprises. These companies can collect client data by using Reelo's platform to integrate with their point-of-sale (PoS) billing software. Next, in order to generate additional information and retain customers, the platform adds loyalty programs and automates marketing methods.
TGIF, Jamie's Italian, Huber & Holly, Jumboking, Aditya Birla Group Hospitality, and many more are among the over 16 million clients the platform claims to have engaged with since onboarding over 17,000 businesses in India, the Middle East, and Africa.
