PayU Invests $5 Million in BRISKPE to Enhance Cross-Border Payments for Indian MSMEs
New Delhi: PayU, a digital financial services provider, has announced a $5 million investment in a seed round in BRISKPE, a cross-border payments platform aimed at simplifying global payments for Indian MSME merchants.
The investment reflects PayU India’s dedication to facilitating seamless international payments and supplements its existing export and import offerings, the company stated.
Vijay Agicha, Chief Investment Officer at PayU, expressed enthusiasm about the collaboration, citing BRISKPE’s strong management team, proficiency in digital-first business models, and banking systems. He emphasized PayU’s active involvement in shaping BRISKPE’s future growth.
“We’re optimistic about the potential in cross-border payments and remain committed to driving economic growth in India,” Agicha added.
BRISKPE, established to enhance efficiency, transparency, and security, aims to empower Indian businesses for global success. Sanjay Tripathy, Co-Founder and CEO of BRISKPE, highlighted the significance of the partnership in simplifying cross-border transactions for MSMEs, enabling their global expansion.
Tripathy reiterated BRISKPE’s commitment to facilitating international trade as seamlessly as domestic transactions, emphasizing their innovative solutions for local businesses to flourish globally.
Furthermore, PayU affirmed its ongoing investment in expediting the adoption and streamlining of international payments for various segments while adhering to new regulatory licenses.
Last week, PayU received in-principle approval from the Reserve Bank of India to function as a Payments Aggregator (PA) under the Payment Settlements Act, 2007.
