[Funding alert] B2B fintech startup Rupifi raises $25M from Bessemer Venture Partners, Tiger Global

Rupifi will use the funding to move towards building the complete B2B checkout product for marketplaces and omni-channel mobile-first B2B Payments solutions for merchants, distributors, and sellers.
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Bengaluru-based finance platform for micro, small, and medium-sized enterprises (MSMEs), Rupifi has raised $25 million in Series A round led by  Bessemer Venture Partners and Tiger Global Management.

Existing Investors Quona Capital and Ankur Capital also participated in this round along with Better Capital.

Founded in 2020 by Anubhav Jain, Ankit Singh, and Jawaid Iqbal, this is Rupifi’s second investment round within a span of nine months, since its Pre-Series A in March 2021.

Anubhav Jain, Co-founder and CEO of Rupifi, during a conversation with YourStory said the startup has so far raised $30 million, including the current round.

Operating in the B2B Payments space through its B2B Buy Now Pay Later (BNPL) and SME focused Commercial Card products, Rupifi will use the fresh funds to move towards building the complete B2B checkout product for marketplaces and omni-channel mobile-first B2B Payments solutions for merchants, distributors and sellers,” he added.

Rupifi team

Speaking about the round, Anubhav Jain stated, “We are super thrilled to welcome two of the largest global investors onboard. With this current investment from Bessemer Venture Partners and Tiger Global, we plan to build further towards our goal of disrupting B2B payments and transactions. 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."

"With the recent round of funding, 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,” he added.

Talking about their investment in Rupifi, Vishal Gupta, Managing Director of Bessemer Venture Partners said,

“We are excited to back Rupifi and Anubhav in their mission to simplify B2B payments including BNPL for B2B marketplace and smaller merchants in a seamless way. B2B Payments and B2B Credit are large problems with technology being the future to solve these and Rupifi team is building around that keeping the SMEs at the core”.

“We have had the experience of working with more than 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.

“The Rupifi team has demonstrated the strength of their proposition by onboarding top tier platforms and rapidly scaling-up SME transactions in just a few months since our initial investment. B2B transactions is a huge opportunity in India and we are delighted to welcome global leaders like Bessemer and Tiger to support Rupifi get to the next level,” added Krishnan Neelakantan, Managing Partner at Ankur Capital.

 

"B2B transactions and payments is a very fragmented process in India. Rupifi’s tech driven integrated solution resolves these bottlenecks and unlocks value for small businesses. Rupifi’s solution is finding increasing acceptance and adoption amongst top-tier B2B marketplaces and their ecosystems. We are excited to continue backing the Rupifi team in their next stage of growth," said Varun Malhotra from Quona Capital.

Edited by Megha Reddy

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