Digital business-to-business (B2B) payment startup for small and medium enterprises (SMEs) Rupifi announced disbursing loans worth Rs 2,000 crore since the year 2020 on the back of sectors such as FMCG and grocery sector followed by consumer goods, agri, and pharma.
The company announced growing at 407.7 per cent over last year on account of the increase in loan disbursements which it attributes to an uptick during the pre-Diwali season.
On offering flexible payment options to SMEs, Anubhav Jain, Co-founder and Chief Executive Officer said, “Online BNPL has been our core offering and contributed to the maximum growth value. However, offline buy now pay later (BNPL) has also picked up over the last couple of months.”
“Our product is embedded in BNPL, which means no app is required to be downloaded by the borrower, and all transactions are integrated within the anchor app,” he added.
Rupifi sources capital largely from NBFCs and integrates its payment offerings such as B2B BNPL and B2B checkout products within the B2B marketplaces, including Walmart, Flipkart and Jumbotail. It has offered almost 1,50,000 businesses in 500-plus cities working capital ranging from Rs 10,000 to Rs 10 lakhs.
Earlier this year, the company announced the launch of a community platform MUNAFA to help MSMEs grow with access to knowledge, information and business connections.
Founded in 2020, the company is backed by Tiger Global, Bessemer Venture Partners, Quona Capital and Ankur Capital.
