Rupifi has raised $25 million in India for its B2B payments platform

Rupifi has raised $25 million in a fresh funding round as the Indian firm wants to extend its business-to-business payments operations. Rupifi provides purchase now, pay later services to various marketplaces to serve their merchants.

Tiger Global and Bessemer Venture Partners headed the two-year-old startup’s $25 million financing round. According to a top official, existing investors Quona Capital and Ankur Capital also participated in the round.

Rupifi works with over a dozen B2B marketplaces, including Walmart, Flipkart, and Jumbotail, to provide credit to their merchant partners, many of whom are mom and pop shop owners (working capital). These checks have ticket sizes ranging from $10,000 ($135) to $10,000,00 ($13,500).

For its underwriting, the startup sifts through the data on the partner marketplace to determine who should get credit and how big it should be. Rupifi has offered credit to more than 50,000 vendors so far, according to Anubhav Jain, co-founder, and chief executive of the firm.

“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.” 

Anubhav Jain, co-founder, and chief executive, Rupifi
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