PeLocal, a payment solutions provider within Whatsapp, has raised $2 million in its seed funding round led by Unicorn India Ventures.
The proceeds will be used to expand and enhance the platform and also help accelerate go-to-market strategies for rolling out large-scale projects, the startup said in a statement.
Founded in 2021 by Vivekanand Tripathi (Founder & CEO), PeLocal specialises in transit ticketing, utility payments, and financial services, delivering secure solutions across government and private sectors. It counts Delhi Metro, Indraprastha Gas, Mahanagar Gas, and some of the insurance companies among its clients.
In the last 12 months, PeLocal claims to have grown from 500,000 to 3 million monthly payment transactions. The company aims to touch 10 million monthly payment transactions on WhatsApp in the next 12 months.
PeLocal will also be launching a marketing catalogue on WhatsApp with payments and an SMB payments platform on WhatsApp.
“While the digital payment solutions are growing, there is still a need for a unique and simple digital payment solution for micropayments, on the fly, which is what PeLocal is enabling through WhatsApp platform and enabling a seamless experience for consumers and service providers,” said Anil Joshi, Managing Partner, Unicorn India Ventures.
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