Rupifi raises $1 million as debt and equity
- Rupifi offers embedded lending solutions to business-to-business marketplaces, and is currently working with small businesses across sectors of food, pharmaceuticals, fashion, electronics, agriculture and general merchandise
BENGALURU: Financing platform Rupifi on Friday said it has raised $1 million in a mix of equity and venture debt from Alteria Capital and technologist Gokul Rajaram.
The company is expects to use these funds to scale its existing ‘Buy Now Pay Flexibly’ product offering for small businesses transacting on business-to-business marketplaces.
“We are happy to partner with Rupifi in their journey towards building a BNPL platform targeting the last mile retailer. Embedded finance plays a crucial role in addressing the credit gap created by the prevalent supply chain network in most industries and Rupifi is strongly placed to cater to this market,” said Punit Shah, partner, Alteria Capital.
Founded in 2020, Rupifi offers embedded lending solutions to business-to-business marketplaces, and is currently working with small businesses across sectors of food, pharmaceuticals, fashion, electronics, agriculture and general merchandise.
“We are excited to have Alteria Capital working with us in our goal to empower small businesses in India through access to financial products. We plan to use the debt towards creating stronger partnerships with financial institutions and secure significant limits from banks and non-banking finance companies for our expansion. We believe in a balanced mix of both equity and debt to manage our growth, product development and expansion plans in the embedded finance domain”, said Anubhav Jain, co-founder and chief executive officer of Rupifi.
“Also, having Gokul on our cap table gives us tremendous fire power. We have been taking his inputs in our business growth and strategic plans for the past year and to formally bring him onboard is super exciting. His experience at some of the world’s largest tech companies like Google, Facebook, Square and DoorDash is unique and so much to learn from”, added Jain.
Rupifi underwrites and provides loans based on a company’s cash flows.
“Every company will eventually be a fintech company and offer financial services to its customers. Rupifi is building the definitive platform for B2B companies to embed financial products into their customer experience in a fast, easy-to-use, and seamless way. I’m excited to support Anubhav, Ankit and Jawaid as they march towards fulfilling their mission of helping small businesses access financial products such as credit and lending at the point of transaction”, said Gokul Rajaram.
The company intends to utilise funds raised to expand its offering to different marketplaces.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High