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Tech ObserverNewsIndustryDotPe raises $58 million in series B funding, eyes financial services foray

DotPe raises $58 million in series B funding, eyes financial services foray

The funding round saw participation from existing investors PayU, the payments and fintech business of Prosus, and InfoEdge Ventures.

The funding round saw participation from existing investors PayU, the payments and fintech business of Prosus, and InfoEdge Ventures.

Indian technology start-up, , that provides commerce and payments platform to offline enterprise businesses has raised $58 million in its series B funding round led by Temasek.

According to the platform, which looks to ‘foray into financial services’, currently serves over 7.5 million brands across the country. The funding round saw participation from existing investors , the payments and fintech business of , and InfoEdge Ventures while Mitsubishi & Naya Capital joined as new investors.

“As we keep democratising opportunities for business growth with our omni-channel solutions and making technology more affordable and accessible, we also plan to foray into financial services and further empower merchants with business loans & credit lines to turbocharge their growth,” Shailaz Nag, co-founder and CEO, DotPe said.

Founded in 2020, DotPe’s merchant-base has grown over 3 times since launch. In March, DotPe secured $27.5 million (around Rs 200 crore) in Series A funding as joined PayU and Info Edge Ventures as investors.

“We look forward to empowering more Indian businesses with the benefits of digitization and co-creating a brighter future for the country’s merchant community,” Vijay Agicha, Global Head of Strategy and Growth at PayU said.

Started by ex-PayU Founder Nag with Gyanesh Sharma and Anurag Gupta, DotPe has digitised enterprise as well as small and medium-sized business (SMB) merchants through a ‘full stack’ solution.

The company said that on the enterprise side, it has integration with over 10,000 restaurants and food courts, including leading global and domestic food and beverage brands.

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