PeLocal’s vision is to become the leading WhatsApp-based ticketing provider in various Indian states and organizations, while driving the adoption of utility payments through WhatsApp.
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PeLocal, a payment solutions provider within WhatsApp, has 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.
Over the past 12 months, PeLocal has grown from 500,000 monthly payment transactions to 3 million monthly payment transactions. The company aims to achieve 10 million monthly payment transactions on WhatsApp in the next 12 months. PeLocal will also launch a marketing catalog on WhatsApp with payments and an SME payment platform on WhatsApp.
Founded in 2021 by Vivekanand Tripathi (Founder), PeLocal offers secure end-to-end solutions leveraging cutting-edge communication channels and has been at the forefront of promoting payment platforms on integration pioneer Meta of WhatsApp for seamless transactions for customers like Delhi Metro, Indraprastha Gas, Mahanagar Gas, and several insurance companies also trust it to manage premium payments.
Commenting on the investment, Anil Joshi, Managing Partner, Unicorn India Ventures, said, “India is undoubtedly one of the fastest growing fintech markets in the world, driven by rapid adoption of digital technologies . As digital payment solutions grow, there is still a need for a single, simple digital payment solution for on-the-fly micropayments, which PeLocal enables through the WhatsApp platform and enables a seamless experience for consumers and vendors of services.
PeLocal’s vision is to become the leading WhatsApp-based ticketing provider in various Indian states and organizations, while driving the adoption of utility payments through WhatsApp.
Vivekanand Tripathi Founder PeLocal said, “PeLocal is delighted to be backed by Unicorn India Ventures. The deep expertise and strategic insights of Unicorn executives, who have backed several high-performing fintech startups, will be invaluable as we continue to build on our growth momentum. 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.
PeLocal aims to become the leading aggregator, leveraging technologies such as WhatsApp for transparent, secure and customer-centric transactions. It also bridges the gap between marketers and consumers who are considering the idea of being “Vocal for Local”. The company plans to aggressively move into WhatsApp payments and further strengthen its leading position in the payment solutions market.