BRISKPE, a Mumbai-based cross-border payments platform, raised $5 million in a seed 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 scale up its reach to enable more Indian businesses to set off on their global journey with seamless cross-border payments. The company intends to drive economic growth and allow MSMEs to thrive in the fiercely competitive international market, as per a company statement.
MSMEs form the backbone of India's economy, driving innovation and growth. In the fiscal year 2023–24, MSME products constituted more than 45 percent of India's exports, as per data disclosed by the Parliament. However, 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, according to a company statement.
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.”
Read: Start-Ups In India Grew Over 300 times In Ten Years: Union Minister Jitendra Singh
With a customer base of more than 1000 exporters, BRISKPE aims 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," said Sanjay Tripathy, co-founder and CEO of BRISKPE.
