INDIA, 27th June 2022: Rupifi, India’s 1st Embedded Finance company which operates in the B2B Payments space through its B2B Buy Now Pay Later (BNPL) today launched MUNAFA, a community platform to further its vision of helping MSMEs grow.
MUNAFA will serve as a trusted source of information, content, and business connections for Indian MSMEs supporting them across every stage of their journey. With its multilingual content, served across a variety of mediums, the platform will provide MSMEs with access to a variety of trusted resources that will enable their day-to-day operations and achieve growth objectives. Topics such as GST/tax filing, benefits of various government schemes, and business opportunities in various clusters/markets. While the platform is currently launching in three languages – English, Hindi, and Kannada, it will be extended to other major Indian languages in the future.
Commenting on the launch, Anubhav Jain, Co-Founder and CEO of Rupifi said, “Lack of awareness and inadequate access to information has led to restricted growth of MSMEs segment. It is crucial to bridge that gap for MSMEs to fully realize their potential. At Rupifi, we aim to bridge this gap for businesses with MUNAFA by providing simplified content across various categories to enable greater growth.”
The genesis for MUNAFA came from Rupifi’s customer-centric approach and deep engagement with thousands of MSME customers across diverse geographies and sectors. A common underlying theme surfaced around lack of basic business knowledge ranging from how to set up a company, the compliances therein, availing government benefits, information on financial products, and potential business opportunities, among others. Further, Rupifi noted that most sources of information available to MSMEs today are not easily accessible and fragmented. With a one-stop community-based platform for MSMEs, Rupifi aims to empower its MSME partners to scale faster. The interactive platform will also help MSMEs leverage shared resources within their peer community.
Additionally, the company announced the launch of 2 new products today – B2B Checkout and BNPL for Brands, aimed at strengthening their foothold in the retail and marketplace segments.
Commenting on the timing for this launch, Anubhav said, “Over the last two years Rupifi has powered more than 100,000+ SMEs across 10,000+ Pincodes in India. We aim to provide B2B Payments and Credit solutions to help more than 5 Million SMEs by 2025. Through our BNPL offering, we have grown 50X in the past 12 months and are confident about the future growth of Digital B2B Commerce in the country. There could not have been a better day than today, the MSME Day, to launch our next set of offerings in the B2B Payments space”
About Rupifi
Rupifi is India’s first Embedded Finance company that operates in the B2B Payments space through its B2B BNPL and B2B Checkout products. Rupifi’s solutions power leading B2B marketplaces in India such as Jumbotail, Retailio, Flipkart Wholesale, Fynd etc. allowing them to offer seamless checkout experience and flexible payment terms to their SMB customers. Rupifi’s vision is to unlock growth by powering B2B commerce. Rupifi is backed by Tiger Global, Bessemer Venture Partners, Quona Capital, and Ankur Capital.