It claims to enable flexible and no-EMI credit to companies in sectors including FMCG (fast-moving consumer goods), food, pharma, fashion, electronics, agriculture and general merchandise
The global market for payment gateways was estimated to be worth $17.2 Bn in 2020, projected to grow at a CAGR of 16.43% to reach $42.9 Bn by 2026
The global B2B payments transactions market is expected to be worth $70 Bn by 2030, growing at a CAGR of 10.7% from 2021 to 2030.
Embedded finance startup Rupifi has raised $25 Mn in a Series A funding round led by Bessemer Venture Partners and Tiger Global. Existing investors Quona Capital and Ankur Capital have also participated in the round along with Better Capital.
Founded in 2020 by Anubhav Jain, Ankit Singh and Jawaid Iqbal, Rupifi is an embedded finance startup that offers B2B BNPL (buy now pay later) and SME-focused commercial cards. The startup allows its clients to integrate a payment gateway onto their marketplace with omnichannel payment options.
It claims to enable flexible and no-EMI credit to companies in sectors including FMCG (fast-moving consumer goods), food, pharma, fashion, electronics, agriculture and general merchandise.
“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,” said Anubhav Jain, cofounder and CEO of Rupifi.
“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,” added Jain when speaking about the startup’s plans for the freshly-infused capital.
The global market for payment gateways was estimated to be worth $17.2 Bn in 2020, projected to grow at a CAGR of 16.43% to reach $42.9 Bn by 2026. Meanwhile, the global B2B payments transactions market is expected to be worth $70 Bn by 2030, growing at a CAGR of 10.7% from 2021 to 2030.
“We have had the experience of working with more than a 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.
Earlier this week, fintech startup Fino Payments Bank had received the Reserve Bank of India’s (RBI) approval to begin its international remittance business under the Money Transfer Service Scheme (MTSS).
