PayU invests $5 Mn in cross border payments startup BRISKPE

Cross-border payments platform BRISKPE has raised $5 million in its seed round from PayU, the payments and fintech business of Prosus. 

The proceeds will be used to drive product development, talent acquisition, and business expansion, the company said in a press release.

Led by Sanjay Tripathy, BRISKPE is primarily designed to meet the unique requirements of micro, small, and medium enterprises (MSMEs). Its solution empowers these businesses to reduce costs, streamline global operations, and boost their global competitiveness.

Mumbai-based BRISKPE claims to have a customer base of more than 1,000 exporters and the company is on a mission to simplify global payments, making them cost-efficient, faster, and easy, while ensuring robust tracking and compliance. 

New-age startups such as Instarem, EximPe, Salt, Skydo and Payglocal are looking to disrupt the cross-border payments space by making this process affordable for smaller merchants.

PayU, which recently received in-principle approval from The Reserve Bank of India (RBI) to operate as a payment aggregator, has backed fintech startups like Indiagold, Fisdom, and Dot, among others.