Debt financing
Fintech startup Rupifi raises $8-M in venture debt
Bangalore-based Rupifi, a fintech player operating in the B2B payments space through its buy-now-pay- later (BNPL) and SME-focused commercial cards, has raised USD 8 million in venture debt led by Alteria Capital, Trifecta Capital, and Innoven Capital. This funding is an extension of USD 25 million series-A round that the startup had raised in January this year. The startup plans to utilise the funds to help increase penetration and plug the gaps in the largely manual B2B payments by developing more products and creating an omni-channel mobile-first payments solutions platform. Rupifi currently works with partners across sectors like FMCG, food, pharma, fashion, electronics, agriculture and general merchandise, enabling its customers flexible and no-EMI credit while its SME-focused commercial cards provide flexibility to manage expenses without any cost for shorter periods.
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