Rupifi Raises Venture Debt And Equity

The company will use these funds to scale its existing Buy Now Pay Flexibly product offered to small businesses transacting on B2B Marketplaces.

Rupifi, India’s 1st Embedded Finance Fintech for SMEs, has raised a mix of venture debt round from Alteria Capital and equity from “Father of Google Ads” and board member of Coinbase and Pinterest, Gokul Rajaram. With USD 1 Million raised in this round, the company will use these funds to scale its existing Buy Now Pay Flexibly product offered to small businesses transacting on B2B Marketplaces.

Commenting on the funding Punit Shah, Partner, Alteria Capital said, “We are happy to partner with Rupifi in their journey towards building a BNPL platform targeting the last mile retailer. Embedded finance plays a crucial role in addressing the credit gap created by the prevalent supply chain network in most industries & Rupifi is strongly placed to cater to this market”.

While most of the B2C payments and transaction space has been digitized post demonetization and UPI, B2B transactions largely remain offline. Rupifi is working towards enabling digital B2B transactions for SMEs and the Buy Now Pay Flexibly product achieves that by providing a completely digital, instant credit line to SMEs without any financial documentation. Rupifi follows a strong cash flow or transaction data based underwriting model and the same has shown very promising early results. Rupifi currently serves SMEs across industry segments including FMCG, pharma, fashion, general merchandise, agriculture, electronics, and electricals.

“We are excited to have Alteria Capital, India’s leading Venture Debt funds, working with us in our goal to empower small businesses in India through access to financial products. We plan to use the debt towards creating stronger partnerships with financial institutions and secure significant limits from banks/NBFCs for our expansion. We believe in a balanced mix of both equity and debt to manage our growth, product development and expansion plans in the embedded finance domain”, said Anubhav Jain, Co-Founder and CEO of Rupifi.

“Also, having Gokul on our cap table gives us tremendous fire power. We have been taking his inputs in our business growth and strategic plans for the past year and to formally bring him onboard is super exciting. His experience at some of the world’s largest tech companies like Google, Facebook, Square and DoorDash is unique and so much to learn from”, added Anubhav.

“Every company will eventually be a fintech company and offer financial services to its customers. Rupifi is building the definitive platform for B2B companies to embed financial products into their customer experience in a fast, easy-to-use, and seamless way. The Rupifi team is best in class and I’m excited to support Anubhav, Ankit and Jawaid as they march towards fulfilling their mission of helping small businesses access financial products such as credit and lending at the point of transaction”, said Gokul Rajaram, talking about his investment in Rupifi.

During the past year, there has been a positive sentiment on B2B platforms towards tech-enabled embedded finance products. The pandemic made it imperative for SMBs to move to digital platforms to remain competitive. Rupifi enabled ease of business for SMEs on digital B2B marketplaces through its innovative offering of embedded BNPL. Having witnessed 2X increase in spends during the past 6 months, the company intends to utilize funds raised to expand its offering to more SMS on different marketplaces.

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