- PeLocal offers a seamless payment solution on Meta, leading the way in integrating WhatsApp for secure transactions across diverse sectors, including urban travel, utility bill payments, and financial services such as insurance premium collections.
- Over the past two years, PeLocal has experienced an outstanding growth rate of 300%.
- PeLocal’s vision is to become the premier provider of WhatsApp-based ticketing solutions across Indian states and organizations, while also driving the widespread adoption of utility payments through the platform.
- In the past 12 months, PeLocal has seen its monthly payment transactions surge from 500K to 3 million.
- The company is targeting 10 million monthly transactions within the next year.
Mumbai, Chennai – 19th November 2024 – PeLocal, a leading provider of payment solutions integrated with WhatsApp, has raised $2 million in seed funding, led by Unicorn India Ventures. This funding will help accelerate platform expansion, enhance features, and support the company’s go-to-market strategies for scaling up large projects.
Since its inception, PeLocal has seen impressive growth, expanding from 500,000 monthly payment transactions to 3 million in just 12 months. The company now aims to reach 10 million monthly transactions over the next year. PeLocal is also planning to introduce a Marketing Catalogue on WhatsApp along with a new SMB payments platform designed for small and medium businesses.
Founded in 2021 by Vivekanand Tripathi, PeLocal specializes in secure, end-to-end payment solutions by leveraging cutting-edge communication channels. The company has been a pioneer in integrating WhatsApp as a payment platform, with notable clients such as Delhi Metro, Indraprastha Gas, Mahanagar Gas, and several leading insurance companies, enabling them to handle premium payments effortlessly.
Anil Joshi, Managing Partner at Unicorn India Ventures, commented on the investment, saying, “India is one of the fastest-growing fintech markets globally, with rapid digital adoption. While digital payment solutions are on the rise, there is a growing need for simple, on-the-go digital payment solutions, particularly for microtransactions. PeLocal is enabling this through WhatsApp, offering a seamless experience for both consumers and service providers. With PeLocal’s impressive 3X annual growth over the past two years, we are confident the company will scale further and strengthen its position as a market leader with its innovative solutions.”
PeLocal envisions becoming the primary provider of WhatsApp-based ticketing services across India, while also driving the adoption of utility payments through the platform.
Vivekanand Tripathi, Founder & CEO of PeLocal, expressed his excitement about the investment, saying, “We are thrilled to have the support of Unicorn India Ventures. Their deep expertise in fintech startups will be invaluable as we continue our rapid growth. This marks our first institutional funding and is a pivotal step forward, providing the guidance and resources needed to fuel our expansion.”
PeLocal aims to be the leading aggregator of WhatsApp-based payments, bridging the gap between merchants and consumers, and aligning with the ‘Vocal for Local’ initiative. The company is set to continue pushing aggressively into the payments space and solidify its position as a leader in payment solutions.
