(MENAFN- KNN India) New Delhi, Apr 29 (KNN) PayU, the payments unicorn backed by Prosus, has made a USD 5 million seed investment in BRISKPE, a Mumbai-based platform that simplifies cross-border transactions for Micro, Small and Medium Enterprises (MSMEs).
The funding will allow BRISKPE to enhance its product offerings, expand its team, and grow its reach as it aims to bridge the gap between domestic and international trade for Indian businesses.
“PayU's investment aligns with our mission to facilitate global payments for small businesses,” said Sanjay Tripathy, co-founder and CEO of BRISKPE.“This partnership can be a pivotal step in enabling MSMEs to scale globally through simplified cross-border transactions,” he added.
Founded in January 2023 by former bankers Sanjay Tripathy, Nilesh Pathak, and Indunath Chaudhury, BRISKPE allows MSMEs to sign up, link their Indian bank accounts, and raise invoices for international transactions. It automates payment tracking, communication, and credits payments to Indian accounts within one day.
The startup has collaborated with YES BANK and operates under the Reserve Bank of India's Online Payment Gateway Service Providers framework. It also holds a Money Service Business license in Canada.
“BRISKPE aligns with our cross-border payment strategy and compliance focus. With their expertise in digital business models and banking systems, we're excited to participate in their future growth,” said Vijay Agicha, Chief Investment Officer at PayU.
(KNN Bureau)
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