Cross-border payments platform BriskPe raises $5M from fintech giant PayU

BriskPe, a Mumbai-based cross-border payments platform, has announced that it has raised $5 million in a seed funding round from PayU, the payments and fintech business of Prosus. 

The investment marks a crucial milestone in BRISKPE's journey to empower Indian MSMEs and exporters by simplifying global payments. 

The development comes a week after PayU received approval from the Reserve Bank of India (RBI) to operate as a payment aggregator in the country.

Focused on enhancing product and service offerings 

BRISKPE will use the funding to enhance its product and service offerings, expand its team, and scale up its reach to enable more Indian businesses to set off on their global journey with seamless cross-border payments.

The startup was founded by industry veterans Sanjay Tripathy (Ex HDFC Life CMO), CPTO Nilesh Pathak (Ex NIUM CTO), and COO Indunath Chaudhary (Ex Citi and ICICI Bank).

What does BriskPe do?

Launched in 2023, BRISKPE is a pioneering cross-border payments platform primarily designed to meet the unique requirements of Micro, Small, and Medium Enterprises (MSMEs). 

The startup claims that it has developed cutting-edge technology that simplifies global payments, making them cost-efficient, faster, and hassle-free while ensuring seamless access, robust tracking, and stringent compliance. 

BriskPe said it is committed to providing MSMEs with a comprehensive solution that empowers these businesses to reduce costs, streamline global operations, and boost their global competitiveness. 

It claims to have a customer base of more than 1000 exporters. 

Reshaping global payments for small businesses

Commenting on the investment, Sanjay Tripathy, Co-Founder and CEO of BRISKPE, said, “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. At BRISKPE, we are committed to bridging the gap between domestic and international trade, empowering local businesses with our innovative solutions to thrive globally.”

PayU highlights the strategic importance of the investment 

Vijay Agicha, Chief Investment Officer at PayU, highlighted the strategic importance of this investment, stating, “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. We're optimistic about the potential in cross-border payments and remain committed to driving economic growth in India.”

"At BRISKPE, we're levelling the playing field for local businesses. We envision a future where international trade is as simple as local commerce, empowering every Indian business to thrive globally," Tripathy added.