PeLocal Raises $2 Million to Expand Its WhatsApp Payment Solutions In a significant leap towards transforming the digital payments landscape, PeLocal, a fintech startup that facilitates secure payment
In a significant leap towards transforming the digital payments landscape, PeLocal, a fintech startup that facilitates secure payment solutions within WhatsApp, has raised $2 million in seed funding. The round was led by Unicorn India Ventures, marking a key milestone in the startup’s journey to simplify digital transactions.
With this funding, PeLocal plans to expand its platform, enhance its offerings, and accelerate its go-to-market strategies to roll out large-scale projects.
Founded in 2021 by Vivekanand Tripathi, PeLocal aims to simplify digital payments, allowing users to complete transactions seamlessly on WhatsApp. The platform focuses on transit ticketing, utility payments, and financial services, making it easier for both government and private sectors to offer services through WhatsApp.
Some of the prominent clients benefiting from PeLocal’s solutions include Delhi Metro, Indraprastha Gas, Mahanagar Gas, and various insurance providers.
PeLocal’s unique approach allows users to pay for services without leaving the WhatsApp environment. Whether it’s paying for a metro ride, settling utility bills, or accessing insurance services, PeLocal is bringing financial transactions directly into the messaging app that millions of Indians use daily.
Since its launch, PeLocal has witnessed remarkable growth. The startup has increased its monthly payment transactions from 500,000 to 3 million in just 12 months. With this strong growth trajectory, PeLocal is targeting an ambitious 10 million monthly payment transactions on WhatsApp in the coming year.
PeLocal plans to introduce new features, including:
These new initiatives are expected to drive more transactions and further solidify PeLocal’s presence in the digital payments space.
The funding from Unicorn India Ventures marks a major step for PeLocal, as it gears up to expand its reach and continue innovating. Vivekanand Tripathi, the Founder and CEO of PeLocal, expressed his excitement about the partnership:
“We’re thrilled to have Unicorn India Ventures on board. Their deep expertise in fintech startups will be invaluable as we build on our growth momentum. This institutional funding is a crucial step forward in our mission to transform digital payments in India and beyond.”
PeLocal is not just focused on growing its transaction volume, but also on providing a seamless and easy-to-use payment experience for consumers and service providers alike.
Anil Joshi, Managing Partner at Unicorn India Ventures, shared his views on the investment:
“India is one of the fastest-growing fintech markets, and there is a real need for simple, on-the-go payment solutions. PeLocal is filling this gap by enabling micro-payments through WhatsApp, offering an intuitive experience for consumers and businesses. With a 3X yearly growth rate over the last 24 months, PeLocal is well-positioned to scale further, especially with its upcoming solutions.”
Unicorn India Ventures, known for backing high-growth fintech companies, is confident that PeLocal has the right approach to capture a larger share of the market and will continue to lead the way in simplifying payments for everyday consumers.
The $2 million seed funding will allow PeLocal to:
With this funding, PeLocal is all set to continue scaling its platform and drive even more transactions, creating a seamless, easy-to-use payment system that’s accessible to everyone.
The future of digital payments in India is heavily intertwined with the growth of instant messaging apps like WhatsApp. With millions of users already on the platform, PeLocal is tapping into the immense potential of WhatsApp to make transactions more accessible and convenient.
WhatsApp’s familiarity and ease of use make it the perfect platform for micro-payments, such as paying for transit tickets, settling utility bills, or making small business transactions. PeLocal’s integration within this app could pave the way for a new era of digital payments, simplifying everyday financial transactions.
PeLocal is on a mission to make digital payments simpler and more accessible, especially for those who don’t want to deal with complex apps or systems. By leveraging WhatsApp, the startup is turning a platform people already use every day into a powerful tool for financial transactions.
With the backing of Unicorn India Ventures, PeLocal is set to continue its growth and revolutionize the way India makes payments. Whether it’s paying for metro rides, utility bills, or managing small business payments, PeLocal is making it all possible through a simple chat on WhatsApp.
As the fintech space continues to evolve, PeLocal’s approach is just one example of how technology can make everyday tasks easier, faster, and more secure.
