Flipkart Funds Rupifi’s Indian Expansion with $25 Million

Introduction

In this article, you can find the complete information about Rupifi Flipkart India 25msinghtechcrunch. Rupifi has raised $25 million in a new round of funding as the Indian startup, which currently offers buy now pay later in multiple markets to serve its merchants, looks to expand its business-to-business payment offerings to expand.

B2B payments Rupifi has raised $25m in a recent funding round co-led by Tiger Global and Bessemer Venture Partners, a report by TechCrunch.com has revealed.

Existing investors Quona Capital and Ankur Capital also participated in the round, a senior executive said on Thursday.

Founded in 2020, Indian company Rupifi has developed software to optimize “buy now, pay later” services on B2B digital platforms. The platform also provides the user with bank statements, upcoming payment reminders, and more.

Vishal Gupta, CEO of Bessemer Venture Partners, said: “B2B payments and B2B lending are big problems, and technology is the future to solve them. And the Rupifi’s team builds on that with SMEs at the core.”

A few months ago, Rupifi raised $1 million in a debt and equity round. Alteria Capital and angel investor Gokul Rajaram reportedly provided the funds. As part of the deal, Rupifi hoped to expand the reach of its product to help more small businesses involved in the business-to-business space.

What is Rupifi?

According to rupifi.com. Rupifi is a B2B digital platform that offers small businesses credit, working capital, and payment services. The company was founded in 2020 by Ankit Singh, Anubhav Jain, and Jawaid Iqbal and is based in Bengaluru, Karnataka, India.

India’s first integrated financial company, Rupifi, which operates in B2B payments with its B2B BNPL & B2B Checkout products, announced that it has disbursed over Rs 2,000 crore in loans since 2020 and achieved year-on-year percentage (GOPY) growth of 407.7% per year.

The change in loan disbursements was attribute to an increase during the pre-Diwali season. Operating in some of the industry-leading B2B marketplaces in India across areas such as FMCG, Pharma, Fashion, Electronics, Agriculture, and Food, Rupifi had the most significant presence in the FMCG and Food sectors with ~75%, followed by Goods of consumption and Agricultural and Pharmaceutical Products.

Rupifi is rated 4.9 out of 5 base on 11 employee reviews on AmbitionBox. Rupifi is known for developing skills. It is ranked at the top and has a rating of 4.8. However, Salary and Benefits has the worst rating at 4.2 and can be improve.

What is Flipkart?

Flipkart start in year Oct 2007 by Sachin Bansal and Binny Bansal. It is one of the leading e-commerce marketplaces in India and is based in Bangalore. The company started as an online bookstore. Later, he also began selling other items, such as home appliances, movies, mobile phones, accessories, clothes, Groceries, and Electronics.

Lower Trading Cost – Flipkart online marketplace allows you to make the most of selling benefits as the cost of doing business on Flipkart is lower than other eCommerce portals. So if you are a manufacturer, seller, or supplier, you can become a top seller with minimal investment!

Rupifi 25msinghtechcrunch

Rupifi works with more than 2 dozen B2B marketplaces, including Walmart, Flipkart, & Jumbotail, to help their business partners, many of whom are small and medium-sized enterprises (SMEs) with working capital of between Rs 10,000 (USD 135). ) and 10,000.00 rupees ($13,500).

The company examines the partner market data for its underwriting: who should receive how much working capital. Rupifi, which works mainly with non-bank financial firms to get the money it needs. Has provided loans to more than 50,000 sellers.

“Our B2B BNPL is currently operating in some of the industry-leading B2B marketplaces in India in industries like FMCG [Fast Moving Consumer Goods], Pharmaceuticals, Fashion, Electronics, Agriculture, and Food,” Anubhav Jain, Co-Founder of the startup and CEO, said in an interview with TechCrunch.

Jain said Rupifi would expand its product offering in the coming months. Including an integrated payment product that will integrate into the company’s app and website and support all payment options, including cash. The company is also testing a commercial card for small businesses and merchants.

“We are saying that BNPL is just one of the payment tools merchants use,” Jain said. “The goal now is to move to payments and B2B payments. You can use the card anywhere, even if we are not integrate with that company.”

Rupifi Flipkart India 25msinghtechcrunch

In October, Rupifi and Indian B2B digital marketplace Flipkart Wholesale partnered on an integrated BNPL initiative for micro. Small and medium-sized businesses (MSMBs) on Flipkart’s e-commerce platform to offer Indian family-owned merchants and MSMBs loans digital Grant with flexible repayment. Transparent terms and prices.

Conclusion

Simplest & fastest B2B payments ever. Business Payments have become more accessible and quicker with Rupifi B2B Payments solutions.