Rupifi has raised $25 million in a new financing round as the Indian startup, which currently provides ‘buy now pay later’ service to several marketplaces to serve their merchants, looks to expand its business-to-business payments offerings.
Tiger Global and Bessemer Venture Partners co-led the two-year-old startup’s $25 million financing round. Existing investors Quona Capital and Ankur Capital also participated in the round.
The new investment, especially from high-profile global investors, shows the appetite many have for the buy now, pay later space, a category that has made deep inroads globally in recent years, and their bullishness on young firms in India.
The startup sifts through the partner marketplace’s data for its underwriting - on who should get a credit and its size. Rupifi, which largely works with non-banking financial companies to source the capital, has provided credit to more than 50,000 sellers so far, Anubhav Jain, Co-Founder and Chief Executive of the startup.
He said, “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.”
