Mumbai-based cross-border payments platform BRISKPE has raised $5 million in its seed funding round from PayU, the payments and fintech business of Prosus.
BRISKPE will use the funding to enhance its product and service offerings, expand its team, and widen its reach, it said in a statement.
Launched in 2023, BRISKPE claims to simplify global payments for MSMEs, making them cost-efficient, faster, and hassle-free, while ensuring seamless access, robust tracking, and stringent compliance. According to the statement, MSME products constituted more than 45% of India’s exports in 2023-24. However, MSMEs face hurdles like high transaction fees and exchange rate volatility when it comes to cross-border trade.
“PayU’s investment in BRISKPE aligns with our shared mission to reshape global payments for small businesses. This partnership represents a pivotal stride in simplifying cross-border transactions for MSMEs, enabling them to scale globally,” said Sanjay Tripathy, co-founder and CEO of BRISKPE.
The startup claims to have a customer base of more than 1000 exporters.
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