BRISKPE, a Mumbai-headquartered platform for cross-border payments, secured $5 million in a seed funding round from PayU, the payments and fintech arm of Prosus. The funding will enable BRISKPE to enhance its product offerings, expand its team, and extend its reach, allowing more Indian businesses to engage in seamless cross-border transactions. The company aims to foster economic growth and support MSMEs in the competitive global market, according to a company announcement.
MSMEs are the backbone of India’s economy, driving innovation and growth. In the fiscal year 2023–24, MSME products accounted for over 45 percent of India’s exports, as per Parliament data. However, when venturing into international trade, MSMEs encounter challenges such as high transaction fees and exchange rate fluctuations. BRISKPE is addressing these challenges by reducing transaction costs and exchange rate uncertainties, empowering MSME exporters to navigate global markets with ease and efficiency.
Sanjay Tripathy, Co-founder and CEO of BRISKPE, commented, “PayU’s investment in BRISKPE reflects our joint mission to transform global payments for small businesses. This partnership marks a significant step towards simplifying cross-border transactions for MSMEs, enabling them to expand globally.”
With a customer base exceeding 1000 exporters, BRISKPE aims to streamline global payments, making them cost-effective, quicker, and straightforward, while ensuring robust tracking and compliance. “At BRISKPE, we are creating a fairer landscape for local businesses. We envision a future where international trade is as straightforward as local commerce, empowering every Indian business to succeed on a global scale,” added Sanjay Tripathy, co-founder and CEO of BRISKPE.
