Total amount raised
$38.8 Millions
Latest funding date
3/1/2022
Location
Rupifi has successfully raised $146 million in a bridge round, attracting the attention of 23 investors, including Trifecta Capital Advisors and InnoVen Capital. The platform offers a range of B2B payment solutions, including credit for SMEs and checkout services for brands and marketplaces.
Keep reading to explore the intricacies of Rupifi's fundraising journey and the investors backing this innovative platform.
What Is Rupifi?
Rupifi, founded in 2020, is a digital B2B platform based in Bengaluru, Karnataka, India. The company was established by Ankit Singh, Anubhav Jain, and Jawaid Iqbal.
Rupifi offers a range of B2B payment solutions, including B2B Checkout, B2B Payments Suite, and Credit for Retailers. Their services are designed to simplify and speed up business payments for SMEs and marketplaces.
With a team of 251-500 employees, Rupifi continues to innovate in the fintech space, providing flexible payment terms and quick integrations for businesses.
How Much Funding Has Rupifi Raised?
- Pre-Seed Round
- Amount Raised: $650K
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop initial product offerings.
- Seed Round
- Amount Raised: ₹300M
- Date: March 2021
- Lead Investors: Quona Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the product to reach more SMEs.
- Series A
- Amount Raised: $1M
- Date: October 2021
- Lead Investors: Gokul Rajaram
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series A
- Amount Raised: $25M
- Date: January 2022
- Lead Investors: Bessemer Venture Partners, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand B2B offerings and cater to traditional and mainstream B2B supply chains.
- Debt Financing
- Amount Raised: ₹610M
- Date: March 2022
- Lead Investors: Alteria Capital, InnoVen Capital, Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase market penetration and address gaps in manual B2B payments.
Total Amount Raised: $26.65M
Current Valuation: Not publicly disclosed
Key Investors
- Alteria Capital
- Details: Alteria Capital is a venture debt fund that provides financing solutions to high-growth startups in India. They focus on offering flexible debt structures to support the growth of their portfolio companies.
- Investment Focus Areas: High-growth startups, technology, consumer sectors
- Notable Investments: Dunzo, Lendingkart, Rebel Foods
- Trifecta Capital Advisors
- Details: Trifecta Capital is a venture debt firm that offers structured debt financing to early and growth-stage companies. They aim to bridge the gap between equity and traditional debt financing.
- Investment Focus Areas: Technology, consumer sectors, high-growth startups
- Notable Investments: BigBasket, UrbanClap, CarDekho
- InnoVen Capital
- Details: InnoVen Capital is a venture debt provider that supports high-growth ventures across various stages with flexible financing solutions. They have a strong presence in Asia and focus on providing non-dilutive capital.
- Investment Focus Areas: High-growth ventures, technology, multiple industries
- Notable Investments: Byju's, Swiggy, OYO Rooms
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a global venture capital firm that invests in early to growth-stage companies. They have a long history of backing innovative companies across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: LinkedIn, Shopify, Pinterest
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies globally. They are known for their aggressive investment strategy and significant presence in the tech sector.
- Investment Focus Areas: Technology, consumer sectors, industrial sectors
- Notable Investments: Facebook, Flipkart, Spotify
What's Next for Rupifi?
Rupifi stands at the cusp of significant growth, with opportunities to expand its BNPL services and SME-focused commercial cards across various sectors such as FMCG, pharma, and electronics. The collaboration with Flipkart Wholesale and other B2B marketplaces highlights the vast potential within the eCommerce platform's MSMB user base.
Future fundraising seems promising, given the recent successful venture debt round and previous investments from prominent firms. This positions Rupifi well for further equity or debt rounds, potentially attracting strategic investments from larger financial institutions or tech companies.
However, challenges remain. Competition from other fintech startups and regulatory hurdles could pose significant obstacles. Ensuring the security and reliability of their payment solutions will be crucial as they scale. Despite these challenges, Rupifi's innovative approach and strong market position suggest a bright future ahead.
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