SUMMARY
- PeLocal, a fintech startup, has raised $2 million in a seed funding round led by Unicorn India Ventures.
- The platform specializes in WhatsApp-based payment solutions for transit ticketing, utility payments, and financial services, serving major clients like Delhi Metro.
- With a goal to scale up, PeLocal plans to expand its services and reach 10 million monthly payment transactions within the next year.
Chennai-based fintech startup, PeLocal, has raised $2 million in a seed funding round, with Unicorn India Ventures leading the investment. The funding follows the company’s earlier round, in which it raised $1.06 million from Future Monk Investments and other backers.
PeLocal, which specializes in WhatsApp-based payment solutions, aims to revolutionize the digital transaction landscape by offering secure and seamless services. Launched in 2021 by Vivekanand Tripathi, the platform facilitates transit ticketing, utility payments, and financial services for a range of clients, including government organizations like Delhi Metro, Indraprastha Gas, and Mahanagar Gas, as well as insurance providers.
With the new funds, PeLocal plans to expand its platform, enhance its features, and speed up its go-to-market strategies for large-scale projects. The company has shown impressive growth, increasing its monthly payment transactions from 500,000 to 3 million in the last year. Its goal is to hit 10 million monthly transactions within the next year.
PeLocal is focusing on WhatsApp integration to provide secure, customer-centric transactions, bridging the gap between merchants and consumers. The company is also looking to launch a Marketing Catalog on WhatsApp with integrated payments and an SMB payments platform on the app.
PeLocal competes with other companies in the WhatsApp-based payment solutions space, such as Yellow.ai and Gupshup. The startup is positioning itself to lead the market by capitalizing on the growing demand for digital payment solutions through popular communication platforms.
