Fintech startup Rupifi raises $8 Mn venture debt

B2B fintech payments platform Rupifi has raised $8 million venture debt led by Alteria Capital, Trifecta Capital, and Innoven Capital. This fundraise is an extension of a $25 million Series A round that Rupifi announced in January 2022. 

Launched in 2020, Rupifi offers MSMEs access to multiple lenders in a standardised way on digital business-to-business platforms and marketplaces, on similar lines to the Open Credit Enablement Network built by iSpirt.

Rupifi’s other product lines include a SME focused commercial card which provides SMEs flexibility to manage expenses without any cost for shorter periods. At present, Rupifi’s solution covers more than 70,000 SME partners.

The startup is backed by some of the biggest names of the startup industry like Binny Bansal, the co-founder of Flipkart, Gokul Rajaram of Doordash, Kunal Shah, the founder of CRED, Ramakant Sharma, the co-founder of Livspace, Ashneer Grover, the co-founder of Bharatpe, and Sajid Rehman, the founder of MyAsiaVC.