Assertion Not checkable as stated
Rupify facilitated nearly $7.5M in lending volume in September 2021
“So so we've done close to seven and a half million dollars of lending this month in September.”
Assertion Supported
Rupify is deployed across all Indian Walmart stores and Flipkart B2B
“So we work with the Flipkart Walmart group. So all the Walmart stores in India, we are present today. I see. Entire Flipkart e-commerce platform on the B to B side, we are present today.”
Disclosure
Indian startups typically raise 25% of their equity round in venture debt
“So we raised a four million equity and in India, it's a, when you raise X equity, you get 25% of that in venture debt. So this is a million venture debt.”
Insight
On-balance-sheet lending would add 300 to 400 bps in capital costs
“If I were to do this with my own balance sheet, it would have been at least 300 to 400 basis points higher in terms of math.”
Insight
Rupify's borrower churn stabilizes completely after the first three months
“Churn typically happens in three months. After that we don't see much churn. So let's say I acquire you today. There will be a 10, 15% churn month two and another 10, 15% month three and month four. So that three months we'll see a churn, but after that, the p…”
Assertion Not checkable as stated
Rupify has transacted with approximately 25,000 small businesses
“So as of today, we have close to around 25,000 odd small businesses that have transacted with us.”
Assertion Not checkable as stated
Rupify grew over 200% month-on-month during the previous quarter
“We, we've been growing at more than 200% month on month for the last quarter or so.”
Assertion Not checkable as stated
Rupify approves average $1,000 credit lines with $150 average transaction sizes
“So an average credit line that we approve for these small businesses is something of the order of a thousand dollars, right? And that thousand dollars they utilize over multiple transactions. So the average transaction size for us can be as low as 150 dollars.”
Assertion Not checkable as stated
Rupify offers zero-cost credit to retailers on 14-to-60-day terms
“So this is a very short tenure transaction. It's typically for like, 14 days, 30 days, maximum 60 days. And we make money through the supplier. So it's a zero percent interest or a zero cost credit to the retailer.”
Assertion Not checkable as stated
Rupify charges suppliers a 2% fee on BNPL inventory transactions
“It would be two percent.”
Prediction Not checkable as stated
Rupify expected to double monthly lending in October 2021
“And it's festive season coming up in India next month. So we're looking to almost again, double this in October.”
Assertion Not checkable as stated
Rupify disbursed $7.5M in monthly loans to roughly 15,000 SMBs
“That must be around 15 or a thousand.”
Disclosure
Rupify is launching offline BNPL for physical point-of-sale purchases
“So we are now launching an offline BNPL as well. So we want to be omnichannel.”
Disclosure
Rupify raised an under $1M pre-seed and a $4M pre-Series A
“That was a little less than a million. And earlier this year, we raised a pre-series A that was around four million dollars.”
Disclosure
Rupify diluted 10% to 15% at its idea-stage pre-seed round
“Again that was also at an idea stage with not a single line of code written. So between 10 to 15% dilution there.”
Disclosure
Rupify gave roughly 1% in warrants for its venture debt facility
“No, we were in the, yeah, in the one percent range.”
Assertion Not checkable as stated
Rupify's monthly SME borrower retention is 80% to 85%
“So we keep on looking at how many of the active transacting SMEs transacted again next month. That number for us is around 80, 85%.”
Disclosure
Rupify operates an off-balance-sheet marketplace model for SME lending
“We are a managed marketplace. So this is not set on our balance sheet. We work with a lot of banks and non-bank institutions across the country where we have a revenue and a risk sharing arrangement with them so that we onboard these customers. We provide the …”
Disclosure
Rupify's three co-founders split their equity equally
“Yeah. It's a, it's an equal split between the three of us.”
