Fintech startup PeLocal, known for its payment solutions within WhatsApp, has raised $2 million in seed funding. The funding round was led by Unicorn India Ventures, providing the company with the resources to expand its platform and speed up large-scale project rollouts.
The funds will also support PeLocal’s go-to-market strategies, enabling the company to grow its user base and enhance its services for small and medium businesses (SMBs) across India.
Remarkable Growth in Transactions
In just 12 months, PeLocal has grown significantly, increasing from 500,000 monthly payment transactions to an impressive 3 million transactions. The company is now setting its sights on reaching 10 million monthly transactions via WhatsApp within the next year.
PeLocal also plans to launch a marketing catalog and SMB-focused payment platform on WhatsApp, further strengthening its position in the fintech space.
Empowering Digital Payments
Founded in 2021 by Vivekanand Tripathi, PeLocal specializes in secure and seamless payment solutions using WhatsApp as a platform. It has partnered with notable clients such as Delhi Metro, Indraprastha Gas, and Mahanagar Gas, along with insurance companies for premium payments.
The company aims to simplify micropayments and bring a user-friendly experience to both consumers and service providers. By integrating payments into WhatsApp, PeLocal bridges the gap between merchants and customers, emphasizing its vision of being “Vocal for Local.”
Expert Backing and Vision
Commenting on the funding, Anil Joshi, Managing Partner at Unicorn India Ventures, said, “India’s fintech sector is rapidly growing. PeLocal’s unique payment solutions on WhatsApp address a key need for seamless and secure micropayments.”
PeLocal envisions becoming a leader in WhatsApp-based ticketing across various Indian states and organizations. It also aims to drive utility payments through WhatsApp, making digital transactions more accessible and convenient.
Founder Vivekanand Tripathi expressed excitement about the investment, saying, “This funding is a crucial step forward, allowing us to build on our momentum and achieve greater success with the guidance of Unicorn India Ventures.”
With its innovative solutions, PeLocal is on track to transform how payments are made in India, leveraging WhatsApp to create a secure, efficient, and customer-focused payment experience.
