DotPe, one of India’s leading tech-enabled multi-channel commerce platforms for big and medium-scale merchants, announced today that it has raised USD58 mn in a series B funding round led by Temasek. The round saw participation from existing investors PayU, the payments and fintech business of Prosus, and InfoEdge Ventures. Mitsubishi & Naya Capital join as new investors.
DotPe currently serves over 7.5 million brands including local, national and international brands such as McDonald’s, 24 Seven and Taco Bell in its portfolio. Founded in 2020, DotPe’s merchant base has grown over 3x since launch.
DotPe’s Co-Founder and CEO, Shailaz Nag said, “We started DotPe with a vision to become the primary enabler and disruptor in the O2O commerce segment. Our company has had a great run so far. However, existing merchants are barely the tip of the iceberg in terms of the market opportunity – there are millions of offline businesses in India waiting for simple, effective & affordable tech-led tools to scale. 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.”
Vijay Agicha, Global Head of Strategy and Growth at PayU, commented on the investment, “We have been associated with DotPe since its inception and believe in its potential to fundamentally transform daily operations for businesses in India. There are synergies between PayU’s vision for a holistic Indian merchant ecosystem and DotPe’s phenomenal work in digitising this space. We look forward to empowering more Indian businesses with the benefits of digitisation and co-creating a brighter future for the country’s merchant community.”
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
