B2B fintech payments platform Rupifi announced that the company has raised $25 million in its Series-A round led by Bessemer Venture Partners and Tiger Global. Quona Capital Ankur Capital & Better Capital, who first invested in March 2021, were also part of the investment team.
"With this current investment, 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," said Anubhav Jain, Co-Founder and CEO of Rupifi.
He also added that they 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.
Founded in 2020 by Jain, Ankit Singh and Jawaid Iqbal, this latest round of funding is the second investment the startup has received in a period of 9 months. In March 2021, the startup had raised $4.1 million which was led by Quona Capital.
Some of the startup Rupifi covers FMCG, Pharmacy, Fashion, Food, Agriculture, and Electronics. The startup is backed by some of the biggest names of the startup industry like Binny Bansal, the co-founder of Flipkart, Gokul Rajaram of Doordash, Kunal Shah, the founder of CRED, Ramakant Sharma, the co-founder of Livspace, Ashneer Grover, the co-founder of Bharatpe, and Sajid Rehman, the founder of MyAsiaVC.
"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.