India-based Fintech startup Rupifi raises USD 1 million in series unknown round

Rupifi, a SaaS Fintech startup, raised USD 1 million in debt and equity in a series unknown round from Alteria Capital and Coinbase and Pinterest board member Gokul Rajaram on 30 September 2021.

Investors: Alteria Capital financed debt, and Coinbase and Pinterest board member Gokul Rajaram invested the equity portion of the capital raised.

The Objectives behind the funding: The company plans to deploy current proceeds to expand its offering to more SMEs, especially across different markets. It specifically focuses to scale its Buy Now, Pay Flexibly product aimed at small businesses transacting on B2B marketplaces.

About Rupifi

Founded in 2020 by Anubhav Jain, Ankit Singh, and Jawaid Iqbal, Rupifi is a SaaS firm focussed on building financial solutions for small and medium enterprises in India and Southeast Asia. The startup is primarily based on the Cash Flow Lending model. Rupifi emerged as India’s first Lending-As-A-Service platform for all financial products, including Line of Credit, Invoice Financing and others like cards and loans. Rupifi have been helping small and medium enterprises to keep their heads above the water, especially during COVID-19. During the last six months, the Rupifi platform using SMEs doubled their spendings to transact on B2B marketplaces.

What the Founder has to say:

“We plan to use the debt towards creating stronger partnerships with financial institutions and secure significant limits from banks and NBFCs for our expansion,” said Anubhav Jain, Co-founder and CEO of Rupifi. “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,” he added.

What the Investor has to say:

“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. The Rupifi team is best in class, and 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,” Gokul Rajaram said.

India’s fintech industry is projected to hit USD 84 billion by 2025, a CAGR of 22 per cent. Most of the Indian fintech companies are based in Mumbai or Bengaluru, as they are the country’s financial and technological hubs. The fintech transaction value size is anticipated to grow to USD 138 billion by 2023. Currently, over 2,100 fintech entities are operating in India.

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