Cross-Border Payments Platform BriskPe Raises $5 Million In Seed Funding From PayU
BriskPe plans to utilise the funds to improve its products and services and build a full stack payments platform for domestic and cross-border payments.
BriskPe, a cross-border payments platform for Indian micro, small and medium enterprises, has raised $5 million in seed funding from PayU, the payments and fintech business of Prosus.
BriskPe plans to utilise the funds to improve its products and services and build a full-stack payments platform for domestic and cross-border payments. The startup also plans to expand its workforce and broaden its market penetration to help more Indian companies go global with easy cross-border payments, it said.
Launched in 2023, BriskPe aims to meet the needs of MSMEs by assisting them in cutting costs, streamlining international operations, and increasing their global competitiveness. This was the startup’s first institutional funding round.
“This partnership represents a pivotal stride in simplifying cross-border transactions for MSMEs, enabling them to scale globally. At BriskPe, we are committed to bridging the gap between domestic and international trade, empowering local businesses with our innovative solutions to thrive globally,” said Sanjay Tripathy, co-founder and chief executive at BriskPe.
According to the fintech firm, it has over a thousand exporters as clients and has partnered with Yes Bank to enable transactions in over 180 countries in around 36 foreign currencies. It operates under the framework of the Reserve Bank of India’s Online Payment Gateway Service Provider and is licensed as a money services business by Fintrac in Canada.
The startup aims to level the playing field for MSMEs by streamlining international payments, making them easier, faster, and less expensive while maintaining compliance and tracking.
“BriskPe’s alignment with our cross-border payment strategy and focus on compliance highlights a symbiotic partnership. With BriskPe’s top-notch management team expertise in digital-first business models and banking systems, we’re excited to actively participate in shaping their future growth,” said Vijay Agicha, chief investment officer at PayU.
