Chennai-based fintech startup PeLocal has successfully raised $2 million in a seed funding round led by Unicorn India Ventures, following a prior investment of $1.06 million in the same round from Future Monk Investments and others. The funds will be utilized to enhance the platform’s capabilities, accelerate go-to-market strategies, and drive large-scale project rollouts, according to the company’s press release.
Revolutionizing Payments Through WhatsApp
Founded in 2021 by Vivekanand Tripathi, PeLocal offers payment solutions integrated within WhatsApp, streamlining digital transactions for clients across sectors, including Delhi Metro, Indraprastha Gas, Mahanagar Gas, and prominent insurance providers. The platform specializes in transit ticketing, utility payments, and financial services, delivering secure and innovative solutions to both government and private entities.
PeLocal is committed to leveraging emerging technologies, especially WhatsApp, to provide seamless, secure, and user-friendly transaction experiences. The company’s mission aligns with the “Vocal for Local” initiative, bridging the gap between merchants and consumers through cutting-edge communication and payment channels.
Impressive Growth and Future Goals
In the past year, PeLocal has scaled its operations significantly, growing from 500,000 monthly payment transactions to 3 million. Looking ahead, the company aims to achieve 10 million monthly transactions within the next 12 months.
PeLocal also plans to roll out new features, including a Marketing Catalog with integrated payments on WhatsApp and a dedicated SMB payments platform, further strengthening its leadership in the WhatsApp payment solutions space.
Competitive Landscape
PeLocal competes with industry players like Yellow.ai and Gupshup in the conversational payments and automation domain. By focusing on WhatsApp-based solutions, PeLocal is carving out a niche, targeting the intersection of secure financial services and conversational commerce.
With its innovative approach and substantial funding, PeLocal is well-positioned to redefine digital payments and expand its impact across India’s financial ecosystem.
