Buy now, pay later platform Rupifi has reportedly collected $1m in a funding round comprised of debt and equity.
The funds were supplied by Alteria Captial and angel investors Gokul Rajaram, according to a report from mint.
As part of the deal, Rupifi hopes to extend its product reach to help more small businesses operating on a business-to-business front.
Founded in 2020, Rupifi has designed software to streamline buy now, pay later services on digital B2B platforms. The platform also provides the user with credit line statements, upcoming payment reminders and more.
Rupifi co-founder and CEO Anubhav Jain told mint, “We are excited to have Alteria Capital working with us in our goal to empower small businesses in India through access to financial products.
“We plan to use the debt towards creating stronger partnerships with financial institutions and secure significant limits from banks and non-banking finance companies for our expansion. We believe in a balanced mix of both equity and debt to manage our growth, product development and expansion plans in the embedded finance domain.”
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