BRISKPE, a Mumbai-based cross-border payments platform, has announced that it has raised $5 millionin a seed roundfrom PayU, the payments and fintech business of Prosus. This investment marks a crucial milestone in BRISKPE’s journey to empower Indian MSMEs and exporters by simplifying global payments.
BRISKPE will use the funding toenhance 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 company remains committed to driving economic growth and allowing MSMEs to thrive in the fiercely competitive international market.
MSMEs form the backbone of India’s economy, driving innovation and growth. In the fiscal year 2023-24, MSME products constituted more than 45% of India’s exports. Yet, when venturing into cross-border trade, they face hurdles like high transaction fees and exchange rate volatility. BRISKPE is rewriting this narrative by slashing excessive transaction fees and exchange rate uncertainties, empowering MSME exporters to navigate global markets effortlessly and efficiently.
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.”
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.”
BRISKPE has been founded with a mission to elevateefficiency, transparency, and security in cross-border payments and empower Indian businesses to thrive globally. The founders are veterans in the financial services industry led by CEO Sanjay Tripathy (Ex HDFC Life CMO); CPTO Nilesh Pathak (Ex NIUM CTO) and COO Indunath Chaudhary (Ex Citi and ICICI Bank).
BRISKPE has quickly established itself as a pioneering force in the cross-border payments landscape. With a customer base of more than 1000 exporters, the company is on a mission to simplify global payments, making them cost-efficient, faster, and hassle-free, while ensuring robust tracking and compliance. “At BRISKPE, we’re leveling 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,” adds Tripathy.
