- The finance platform providing flexible credits to MSMEs has acquired funding of $4.1 million in a pre-series A round led by Quona Capital.
- The platform is intending to use funds for scaling up business territory, product offerings, partnership, and team size.
- In the coming days, the company has a goal to garb booming digital B2B loan transactions by making credit available to MSMEs.
Bengaluru-based digital finance platform Rupifi a, micro, small and medium-sized enterprises (SMEs) has announced that they have successfully raised funding of $4.1 million in a pre-series A round led by Quona Capital.
In the funding round, other investors including Ankur Capital and Flipkart co-founder Binny Bansal also participated.
According to the official statement, the fresh funding will be used for the expansion of Rupifi in other markets in India also where finance is a big issue, and increase product offerings, finding potential partners and also the main task is to acquire a bright brain to the scale up the team.”
Founded in 2020 by Anubhav Jain, Ankit Singh, and Jawaid Iqbal, Rupifi operates a software-as-a-service (SaaS) that is fully focusing on focusing financial products to address problems facing by micro, small, and medium-sized enterprises (SMEs) in India and Southeast Asia.
Talking about the platform, Anubhav Jain, Co-Founder, and CEO, Rupifi said,” “We’ve all become used to the Buy Now, Pay Later (BNPLs) of the world like Klarna and Affirm. But MSMEs don’t need lengthy installment plans, they need access to small loans/credit lines they can pay back at variable periods, based on their resale of the items they buy. For many, this may be as quick as “buy now, pay next week” or “buy now, pay next day”—but when they don’t have access to credit for even the shortest of terms, those MSMEs fail to grow.”
Rupifi is a flexible platform that is solving the fear of the entire ecosystem, B2b anchors to lenders. We are in the business to the much-needed support in the form of flexible credit to remove businesses from crisis and troubles. It has also been noticed that digital B2B transactions nowadays are growing at a very unprecedented rate