Cross-border payments platform BRISKPE raises $5M from PayU

Prosus-backed payments unicorn PayU has invested $5 million in seed round in cross-border payments platform BRISKPE.

Mumbai-based BRISKPE plans to utilise the funding to improve its product and service offerings, grow its team, and expand its reach.

"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," Sanjay Tripathy, Co-founder and CEO of BRISKPE, said.

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Founded by former bankers Sanjay Tripathy, Nilesh Pathak, and Indunath Chaudhury in January 2023, BriskPe simplifies cross-border transactions for MSMEs by allowing them to sign up, link their Indian bank accounts, and raise invoices.

The platform automates payment tracking and communication, and the money is credited to Indian bank accounts within one day. It has collaborated with YES BANK and operates under RBI's OPGSP framework and holds a Money Service Business licence in Canada.

"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," Vijay Agicha, Chief Investment Officer at PayU, said.