PayU, the payments and FinTech arm of Prosus has announced investing $5 million in the seed round of funding for BRISKPE, a cross-border payments platform based in Mumbai.
Vijay Agicha, Chief Investment Officer at PayU, confirmed the funding in a statement on Monday.
Founded in 2023, BRISKPE presents itself as a cutting-edge platform for cross-border payments, especially tailored to the specific needs of Micro, Small, and Medium-Sized Enterprises (MSMEs).
With the recent fund, BRISKPE plans to improve its services and product offerings, grow its workforce, and broaden its market penetration so that more Indian companies can embark on international expansion with easy cross-border payments.
“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,” noted Sanjay Tripathy, Co-Founder and CEO of BRISKPE.
As per the statement, the funding will enable Indian enterprises to progress on their worldwide journey by supporting the cross-border payment startup’s talent acquisition, company expansion, and product development.
Vijay Agicha, Chief Investment Officer at PayU, stated, “BRISKPE’s alignment with our cross-border payment strategy and focus on compliance highlight a symbiotic partnership.
“With BRISKPE’s top-notch management team’s 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 of cross-border payments and remain committed to driving economic growth in India.”
We earlier reported that with more than $1 billion in funding, driven by Arch Venture Partners and Foresite Capital, an AI drug discovery firm, Xaira Therapeutics, has made its debut in using computational methods that could revolutionize drug discovery.
