Rupifi Partners With Muthoot Finance

Rupifi, India’s Embedded Finance Fintech for SMEs has partnered with one of India’s largest NBFCs Muthoot Finance to power 15 million SMEs with access to instant credit over the next few years. The duo started this partnership earlier this year and are now looking to scale this across different industry verticals across the country.

“We have been at the forefront of enabling frictionless and cash-flow linked credit to MSMEs for the past 12 months. We are currently working with B2B marketplaces across FMCG, pharma, fashion, agriculture and food domains, providing the SMEs transacting on these platforms with instant credit for their purchases.  We have SME customers in 230+ small towns and cities across the country and we have analyzed more than a million data points over the past few months in building a robust cash-flow based underwriting framework. Muthoot Finance, with its pan-India presence and decades of experience, is the perfect partner for us to build a large portfolio over the next few years”, said Anubhav Jain, Co-founder and CEO of Rupifi

“Most of these small businesses do not get unsecured credit from Banks, NBFCs or even fintech’s today, and thus have to rely on secured loans to manage their working capital. With one of the largest gold loan portfolios in the country, Muthoot Finance team brings a ton of experience underwriting these SMEs which would help us create the best possible experience with maximum coverage. We plan to target 15 million SMEs over the next few years through this partnership and help these SMEs grow their business with no dearth of capital, whenever they require, starting with their purchase financing needs, which we solve through our Buy Now Pay Later product”, he added

“Indian SMEs are going through a difficult phase especially post covid.  At Muthoot Finance, we are building products and driving various initiatives to provide them working capital support. Rupifi has built strong B2B embedded infrastructure and “Buy Now Pay Later” (BNPL) is the need of the hour product for Indian SMEs, especially driven by increasing digitisation post covid. Our partnership with Rupifi strengthens our offerings and helps us drive growth in the fast-evolving B2B space”, said Jayachandran B, Chief Operating Officer – Business Loans, Muthoot Finance, talking about this partnership.

Rupifi was started in January 2020 by Anubhav Jain, Jawaid Iqbal and Ankit Singh and is India’s 1st SME focused embedded finance fintech. It provides a BNPL product variant which it terms as “Buy Now Pay Flexibly”, owing to the flexible repayment feature of the product, where the SME can pay the dues as and when required with a per-day interest pricing and no monthly EMIs. Rupifi is providing this SME Buy Now Pay Flexibly product to over a dozen large marketplaces across different sectors, with complete technology and product experience ownership and access to multiple lending partners at the back end.