Rupifi, embedded finance company, today announced that it has secured $8 million venture debt. Led by Alteria Capital, Trifecta Capital, and Innoven Capital, this fundraise is an extension of $25 million Series-A round that Rupifi announced in January 2022.
Speaking about the round, Anubhav Jain, Co-Founder and CEO of Rupifi said, “The growing interest of investors is a testament of our strong business fundamentals and B2B payments market potential. We have witnessed increased adoption of B2B BNPL among SMEs and identified varied use cases for B2B payments across different sectors in the last few months. To further increase penetration and plug the gaps in the largely manual B2B payments, we plan to utilize the funds for further strengthening our B2B Checkout Product and creating an omni-channel mobile-first B2B payments solutions.”
"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.”
Started as a B2B BNPL Product focusing on the Digital B2B Marketplaces in mid-2020, currently, Rupifi’s B2B BNPL is operating at over 24 online market places catering to 70,000 small businesses, it added.
