APRIL 20229B2B PAYMENTS FINTECH RUPIFI SECURES $ 8 MILLION VENTURE DEBT IN EXTENSION OF SERIES Aupifi, India's 1st Embedded Finance company which operates in the B2B Payments domain via its B2B Buy Now Pay Later (BNPL) and SME-focused Commercial Card products, announced on 22nd March 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 omnichannel 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".The B2B payments and transactions in India and across the globe are largely manual and unorganized with small businesses, particularly SMEs, constantly facing issues across the various levels of their Transaction Life Cycle, including Invoicing, Payment Reconciliation, and Accounting. Rupifi's tech-driven integrated solutions are addressing the challenges in the ecosystem and unlocking value for small businesses in India. Established as a B2B BNPL Product focusing on the Digital B2B Marketplaces in mid-2020, currently, Rupifi's B2B BNPL is operating at some of the category-leading B2B marketplaces with some eminent names such as Flipkart Wholesale, Retailio, and Fynd among others in India across sectors such as FMCG, Pharma, Fashion, Electronics, Agriculture and Food with over 24 online market places catering to 70,000 small businesses.After having witnessed 50 percent MoM growth in disbursals in the last 12 months, Rupifi's solutions are now finding increasing acceptance amongst SMEs especially because of flexible payment terms, shorter-term credit for transaction closure, and high-frequency credit needs at low cost. Rupifi's digital touchpoints and real-time decision-making significantly enhance the lifecycle of an SME on the platform by providing a seamless experience right from onboarding, application decisioning, transactions, and repayment reconciliations in real-time. In addition, Rupifi also provides easy-to-use APIs and SKDs that integrate deeply with marketplaces and financial institutions thereby creating a seamless experience for all stakeholders. By Team StartupcityRBudding Buzz RUPIFI'S TECH-DRIVEN INTEGRATED SOLUTIONS ARE ADDRESSING THE CHALLENGES IN THE ECOSYSTEM AND UNLOCKING VALUE FOR SMALL BUSINESSES IN INDIA
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