PeLocal, the Chennai-based payment solutions provider within Whatsapp, has raised $2 million seed funding led by Unicorn India Ventures. The funds raised will be used to expand and enhance the platform and also help accelerate go-to-market strategies for rolling out large-scale projects.
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 be launching a Marketing Catalogue on WhatsApp with Payments and SMB payments platform on WhatsApp, says a release.
Founded in 2021 by Vivekanand Tripathi (Founder & CEO), PeLocal, provides seamless transactions for clients like Delhi Metro, Indraprastha Gas and Mahanagar Gas.
Anil Joshi, Managing Partner, Unicorn India Ventures, said PeLocal has seen 3X yearly growth rate in the last 24 months and will be launching new solutions.
Vivekanand Tripathi said, “This is our maiden 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.”