Cross border payments startup BRISKPE received $5 M Seed funding from PayU
The payments and fintech division of Prosus, PayU, contributed $5 million to the seed round of funding for the cross-border payments platform BRISKPE.
The company stated in a press release that the money will be utilized to support talent acquisition, product development, and business expansion.
BRISKPE, headed by Sanjay Tripathy, is primarily made to accommodate the particular needs of MSMEs, or micro, small, and medium-sized businesses. These companies can cut expenses, improve their worldwide competitiveness, and streamline their operations due to its solution.
The goal of Mumbai-based BRISKPE, which says it serves over 1,000 exporters, is to streamline international payments so they are easier, faster, and more affordable while maintaining strong tracking and compliance.
By making cross-border payments accessible to smaller retailers, cutting-edge startups like Instarem, EximPe, Salt, Skydo, and Payglocal hope to upend the cross-border payments market.
Fintech companies like Indiagold, Fisdom, and Dot are just a few of the companies that PayU has backed. PayU was recently granted permission in principle by The Reserve Bank of India (RBI) to function as a payment aggregator.
