Making Indian SMEs Count

Small and medium enterprises (SMEs) form the backbone of the country, as they produce substantial output and generate a chunk of employment. Helping these businesses is not just a profitable business, but also one which can be deeply fulfilling. A brand that realises the potential these enterprises hold is Rupifi, co-founded by Anubhav Jain, who is also the CEO. “I have had the urge to solve large problems and have done a couple of startups before. Rupifi happened after my exit from Qbera which was acquired by Incred, and during these 12 years of experience, I have learned many things, some the hard way,” reminisces Jain.

Till date, Rupifi has raised over $30 million, from Bessemer Venture Partners, Tiger Global, Quona Capital, Ankur Capital and some of the top angels including Kunal Shah, Binny Bansal, Gokul Rajaram and Ramakant Sharma. In terms of revenues, they are currently at over $ 3 million ARR.

“We kept working on different ideas, we realised that if we have to solve for the long tail of SMEs, we need to solve in an embedded way, powering their day-to-day transactions,” adds Jain. This initiative will reduce the cost of acquisition and provide data for underwriting. Hence Rupifi was formed as a B2B payment and credit company, with their first product being a B2B BNPL, focusing on solving purchase financing needs of SMEs on B2B marketplaces.  

Gaining from his previous startup experience, Rupifi decided to use advanced product and technology frameworks from its inception to solve even the smallest SME needs without worrying about CAC, ticket size or monetisation. Talking about his long term plans, Jain says, “As we move forward in the long run, we will continue to build payments and credit offerings for B2B transaction use cases, focusing on SMEs and solving their problems.”