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Rupifi

Also a provider — view Rupifi’s profile →

“Can a third-party platform become the default B2B checkout and embedded-credit rail for India's 70M+ SMEs by orchestrating multiple RBI-licensed lenders behind one merchant journey?”

Founded2020
HQBengaluru, Karnataka, India
FoundersAnubhav Jain, Jawaid Iqbal
Total raised~$29M+
Latest roundSeries A, January 2022
IndustryInfrastructure / Lending
The story

Founded 2020 as a B2B BNPL provider for SME merchants on Indian B2B marketplaces, Rupifi has evolved into a broader 'B2B Payments Suite' / checkout platform serving brands, distributors, retailers, and marketplaces. The model is multi-lender orchestration: Rupifi sources merchants on partner marketplaces, runs underwriting and embedded credit journeys, and routes underlying credit to RBI-registered Partner Lenders (Muthoot Finance, NDX/LiquiLoans, Western Capital Advisors, Great Meera Finlease, etc.). Recent positioning emphasizes B2B checkout, split payments, and instant settlement for marketplaces alongside core BNPL.

Last 12 months
—
Product timeline
2020
Rupifi founded in India by Anubhav Jain and Jawaid Iqbal· founding
2020
First B2B credit transaction processed· lending
2021
Raised $4.1M Pre-Series A led by Quona Capital and Ankur Capital· funding
2022
Raised $25M Series A led by Bessemer Venture Partners and Tiger Global· funding
2022
Crossed 1M+ transactions and 100,000+ SMEs served· growth
2023
Launched India's first self-serve B2B Checkout product· product
Regulated entities
1
regulatory licence held by Rupifi
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Rupifi’s embedded-finance stack
Payments / PSP
Rupifi Checkout (self-operated)UPICardsCredit (BNPL)
Lending
in the full report
Accounting gap: significant
5 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.