PayU invests $5 million in BRISKPE to simplify global payments for Indian MSMEs

Online payments service provider PayU announced a seed funding of $5 million in BRISKPE, a Mumbai-based cross-border payments platform working on streamlining international payments for Micro, Small, and Medium Enterprises (MSMEs).

PayU’s investment reflects a shared commitment to support the government's target of achieving $2 trillion in exports by 2030, the company said in a press release on April 29. The collaboration with BRISKPE aims to simplify cross-border transactions for various business segments while adhering to regulatory standards.

BRISKPE was founded by financial services industry veterans and is led by CEO Sanjay Tripathy (Ex HDFC Life CMO); CPTO Nilesh Pathak (Ex NIUM CTO) and COO Indunath Chaudhary (Ex Citi and ICICI Bank).

Vijay Agicha, Chief Investment Officer at PayU, expressed enthusiasm about the partnership, highlighting BRISKPE’s alignment with PayU's cross-border payment strategy and focus on compliance. “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,” he said.

Sanjay Tripathy, Co-Founder and CEO of BRISKPE, echoed Agicha’s sentiments, emphasising the 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,” he added.

As one of 30 early-stage fintech startups in PayU’s inaugural accelerator programme, inFINity, BRISKPE is poised to leverage the resources and expertise offered by PayU to drive its future growth.