PeLocal, the Chennai-based payment solutions provider within WhatsApphas raised $2 million in seed funding led by Unicorn India Ventures. The funds raised will be used to expand and improve the platform and will also help accelerate go-to-market strategies for large-scale project deployment.
In the last 12 months, PeLocal has grown from 5 lakh monthly payment transactions to 30 lakh monthly payment transactions. The company aims to touch 1 crore monthly payment transactions on WhatsApp in the next 12 months. PeLocal will also launch a marketing catalog on WhatsApp with an SME payments and payments platform on WhatsApp, a statement said.
Founded in 2021 by Vivekanand Tripathi (Founder & CEO), PeLocal provides seamless transactions to clients like Delhi Metro, Indraprastha Gas and Mahanagar Gas.
Anil Joshi, Managing Partner, Unicorn India Ventures, said PeLocal has seen a 3x annual growth rate in the last 24 months and will launch new solutions.
Vivekanand Tripathi said: “This is our first institutional funding and we believe it is a crucial step in the right direction, providing the support and guidance needed to fuel our continued expansion and success . »