Prosus-backed fintech giant, PayU, on Monday 29th April 2024 made headlines with a USD 5 million early-stage strategic investment in the growing cross-border payments platform, BRISKPE. This investment marks an important step in PayU’s expansion into the global payments space.
Empowering Small Businesses
Founded in 2023 and headquartered in Mumbai, the BRISKPE has swiftly positioned itself as a key player in the cross-border payment landscape, catering primarily to micro, small and medium enterprises (MSMEs). Led by the CEO Sanjay Tripathy and Chief Product and Technology Officer Nilesh Pathak BRISKPE offers tailored solutions to businesses navigating the complexities of international transactions.
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Fueling Growth and Innovation
The funding from PayU will support BRISKPE’s efforts to expand its product and service portfolio, strengthen its team, and expand its business. “The strategic partnership between PayU and BRISKPE is driven by our shared values of compliance and digital-first business model,” said Vijay Agicha, Chief Investment Officer (CIO) of PayU.
Shared Vision for Global Payments
Sanjay Tripathi, co-founder and CEO of BRISKPE, echoed Agicha’s sentiments, highlighting the shared vision of revolutionizing global payments for small businesses. The collaboration between PayU and BRISKPE is set to streamline cross-border transactions, empowering MSMEs to expand their reach globally.
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A Testament to Innovation
In the case of “BRISKPE”, PayU’s participation in the Infinity Accelerator program shows its determination to lead innovation towards fintech. This investment is the latest in a list of PayU’s strategic movements in financial technology, which already starts with the acquisition of Citrus in 2016, while it also includes investments in platforms such as Paysense and Wibmo, as well as Fisdom and DotPe.
