BriskPe, a rising star in the fintech world, has successfully raised $5 million in seed funding from PayU, a major player in digital payments and fintech. This substantial investment is set to fuel BriskPe’s mission to streamline and enhance cross-border payment solutions for Indian businesses aiming to expand globally.
Founded in Mumbai, BriskPe has swiftly positioned itself as a crucial platform for micro, small, and medium enterprises (MSMEs), helping them manage international transactions efficiently. The startup’s innovative approach addresses the unique challenges faced by these businesses, offering cost-effective and rapid payment processing services.
The fresh capital will be pivotal for BriskPe, enabling it to strengthen its product and service offerings, expand its team, and scale its operations. This strategic infusion is expected to significantly bolster its capacity to support more Indian enterprises in navigating the complexities of global payments.
BriskPe’s impressive growth trajectory includes a robust customer base of over 1,000 exporters. By simplifying global payments and ensuring rigorous compliance and tracking, the platform aims to make international business transactions more accessible and efficient. Additionally, BriskPe has partnered with Yes Bank to facilitate transactions in over 36 foreign currencies across more than 180 countries, demonstrating its extensive reach and operational capabilities.
This seed funding marks BriskPe’s first institutional investment round, reflecting strong confidence from PayU in the startup’s potential. PayU’s backing is part of its broader strategy to create a comprehensive payments platform that spans both domestic and international markets. This partnership is expected to significantly enhance PayU India’s offerings in the cross-border payments sector.
Sanjay Tripathy, Co-Founder and CEO of BriskPe, expressed enthusiasm about the partnership, stating, “This investment represents a pivotal step in simplifying cross-border transactions for MSMEs. Our goal is to bridge the gap between domestic and international trade, empowering local businesses with innovative solutions to thrive globally.”
PayU’s Chief Investment Officer, Vijay Agicha, echoed this sentiment, highlighting BriskPe’s alignment with PayU’s cross-border payment strategy and its focus on compliance. “We are excited to actively participate in shaping BriskPe’s future growth. Their expertise in digital-first business models and banking systems is crucial for driving economic growth in India,” Agicha remarked.
As BriskPe continues to evolve, its commitment to making global payments more efficient, cost-effective, and compliant positions it as a key player in the fintech landscape, competing with other innovators like PayPal, Razorpay, and Skydo. With PayU’s support, BriskPe is well on its way to revolutionizing the cross-border payment experience for Indian businesses.