PayU invests $5M in BRISKPE to Boost Cross-Border Payments Ecosystem for Indian MSME merchants

Mumbai, April, 2024: PayU, the payments and fintech business of Prosus, announced today a strategic investment of $5M in a seed round in BRISKPE, a Mumbai-based cross-border payments platform working on simplifying global payments for MSMEs. This investment underscores the importance of seamless international payments as part of PayU India’s strategy and complements its existing offerings for exports and imports.

BRISKPE has been founded with a mission to elevating efficiency, transparency, and security, to empower Indian businesses to thrive globally. The founders are veterans in the financial services industry led by CEO Sanjay Tripathy (Ex HDFC Life CMO); CPTO Nilesh Pathak (Ex NIUM CTO) and COO Indunath Chaudhary (Ex Citi and ICICI Bank).

PayU is strongly committed to partnering with BRISKPE to meet the Indian government’s vision of reaching $2 trillion in exports by 2030. PayU will continue to invest in accelerating the adoption and simplify cross-border payments for multiple cohorts by adhering to new regulatory licenses like PA-CB.

Commenting on the investment, Vijay Agicha, Chief Investment Officer, PayU said, “BRISKPE’s alignment with our cross-border payment strategy and focus on compliance highlights a symbiotic partnership. With BRISKPE’s top-notch management team, 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 in cross-border payments and remain committed to driving economic growth in India.”

Sanjay Tripathy, Co-Founder and CEO, BRISKPE said, “PayU’s investment in BRISKPE reflects our shared vision of transforming global payments for small businesses. This partnership is a major step forward in simplifying cross-border transactions for MSMEs, allowing them to expand on a global scale. At BRISKPE, we are committed to making international trade as easy as domestic transactions. Our innovative solutions empower local businesses to thrive in the global marketplace.”

BRISKPE was one of 30 early stage fintech start-ups which participated in PayU’s Inaugural accelerator program, inFINity.