B2B fintech startup Rupifi raises $8M in a venture debt round from Alteria Capital

Bengaluru-based fintech startup Rupifi, which provides flexible BNPL credit line to SMEs on B2B marketplaces, today announced it has raised $8 million in a venture debt round led by Alteria Capital, Trifecta Capital, and Innoven Capital.

Founded in 2020 by Anubhav Jain, Ankit Singh, and Jawaid Iqbal, Rupifi through its fintech platform offers embedded lending solutions to B2B marketplaces. The startup is currently offering its services to small businesses (SMEs) across sectors like food, pharmaceuticals, fashion, electronics, agriculture, and general merchandise.

The platform offers B2B BNPL (buy now pay later) and small and medium enterprises (SME)-focused commercial cards and allows its clients to integrate a payment gateway onto its marketplace with various options. 

Rupifi says the raised funds will be utilized to increase penetration and plug the gaps in the large manual B2B payments. It will also focus on strengthening its B2B checkout products and create an omnichannel mobile-first B2B payments solution.

“We have witnessed increased adoption of B2B BNPL among SMEs and identified varied use cases for B2B payments across sectors in the last few months. The focus on building end-to-end B2B payment solutions will enable us to expand beyond digital marketplaces and cater to requirements of the traditional and mainstream B2B supply chains where the processes and transactions are still offline,” said Anubhav Jain, Co-founder & CEO, Rupifi. 

Last year, Rupifi joined forces with Flipkart Wholesale on an embedded buy now, pay later (BNPL) project for the micro, small and medium-sized businesses (MSMBs) that use Flipkart’s eCommerce platform.

So far, the startup has raised funds from well-known investment firms such as Tiger Global Management, Better Capital, Quona Capital, Bessemer Venture Partners, Google For Startups, and Ankur Capital.

According to Rupifi’s website, It has partnered with Muthoot Finance, Dhanvarsha, IDFC First Bank, Axis Bank, Piramal Capital & Housing Finance, Western Cap, and Great Meera.

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