India, March 3 -- B2B fintech startup Rupifi is raising $2 Mn (around INR 17.45 Cr) in a bridge round from existing investors, including Bessemer Venture Partners, Ankur Capital and Quona Capital.

In a regulatory filing, the startup said that its board approved the proposal to issue 66,427 pre-Series B3 compulsorily convertible preference shares (CCPS) at a face value of INR 1.82 Lakh each to raise the sum from existing shareholders. This translates to a total of INR 1,1215 Cr.

However, Rupifi founder Anubhav Jain told Inc42 that the startup is raising just $2 Mn. "The size of the rights issue is large due to pro-rata share issuance. This is a small internal round and we would take time to build heads down before any large capital raise...