Startup News
PeLocal Secures $2 Million Funding from Unicorn India Ventures!
PeLocal, a fintech startup specializing in payment solutions via messaging platforms like WhatsApp, has successfully raised $2 million in a funding round led by Unicorn India Ventures. This marks the company’s first institutional funding and represents a significant step in its growth trajectory.
Scaling Transactions and Expanding Offerings
Over the past year, PeLocal has experienced impressive growth, scaling its monthly transaction volume from 500,000 to three million. The Chennai-registered startup now aims to hit 10 million transactions per month within the next year. As part of its expansion strategy, PeLocal plans to develop a marketing catalog and a dedicated payments platform tailored for small businesses on WhatsApp.
“This is our maiden institutional funding, and the deep expertise and strategic insights of Unicorn’s leadership will be invaluable as we continue to build on our growth momentum,” said Vivekanand Tripathi, Founder of PeLocal.
Simplifying Digital Payments for Everyday Transactions
Since its inception in 2021, PeLocal has focused on leveraging WhatsApp to streamline payments, serving notable clients such as Delhi Metro, Indraprastha Gas, and Mahanagar Gas. The platform is also utilized by several insurance companies for premium collection, reinforcing its adaptability across various industries.
Unique Value Proposition
Anil Joshi, Managing Partner at Unicorn India Ventures, highlighted the startup’s unique value proposition:
“While digital payment solutions are growing, there remains a demand for simple and seamless solutions for micro payments. PeLocal is addressing this gap by enabling instant payments through WhatsApp.”
This focus on micro payments positions PeLocal to cater to a growing segment of users seeking convenient payment methods integrated into their daily communication tools.
Previous Funding and Vision for Growth
PeLocal had previously raised $1 million in a seed round in 2022, according to Tracxn data. With the latest funding, the company is poised to scale its operations and enhance its offerings, solidifying its position in India’s burgeoning digital payments ecosystem.
The latest investment not only validates PeLocal’s innovative approach but also underscores the growing importance of integrating payment solutions with popular messaging platforms to reach a broader audience.
Future Plans
PeLocal aims to become the leading provider of WhatsApp-based ticketing solutions across various Indian states and organizations while driving the adoption of utility payments through WhatsApp. The company envisions expanding its services beyond traditional payment solutions to include features that enhance customer engagement and streamline business operations.
Key Features of PeLocal’s Services
- Seamless Integration with WhatsApp: Users can send payment links, invoices, and transaction updates directly through WhatsApp.
- Automated Customer Support: The platform offers automated responses and intelligent self-service options, reducing manual efforts.
- Enhanced Payment Security: PeLocal ensures robust security measures for transactions carried out via WhatsApp.
- Convenient Payment Options: Customers can complete payments with just a few taps on their WhatsApp interface.
Conclusion
With this recent funding round, PeLocal is well-positioned to enhance its market presence and capitalize on the growing demand for digital payment solutions integrated with messaging platforms. By simplifying the payment process for both consumers and businesses, PeLocal aims to redefine how transactions are conducted in India’s rapidly evolving fintech landscape. The support from Unicorn India Ventures will be crucial as the company seeks to expand its offerings and reach new heights in the digital payments space.
India’s deeptech ecosystem has reached a significant milestone with the launch of BIGShift, a premier accelerator programme by Inc42 and India Accelerator designed to empower early-stage startups developing breakthrough technologies. The first cohort comprises 13 innovative startups addressing complex challenges in fields such as artificial intelligence, aerospace, robotics, healthcare, and geospatial analytics. These startups benefitted from specialized capital-readiness training, strategic mentorship, and direct access to investors interested in supporting high-risk, high-reward deeptech ventures, making BIGShift a crucial platform for nurturing India’s next-generation technology leaders.
The accelerator programme uniquely combines virtual bootcamp sessions with a comprehensive two-day in-person masterclass, equipping startups with advanced go-to-market strategies, funding expertise, and a valuable network of experienced operator-mentors. Noteworthy startups from the cohort include ActionSync, focused on enterprise data unification; Polygon Geospatial, delivering AI-powered real-time spatial analytics; Purna AI, which innovates in preventive health through genetic biomarkers; Spacetaxi, pursuing reusable commercial rockets; and VertiFly, specializing in hybrid eVTOL aerial mobility solutions. This diverse group exemplifies the ingenuity and pioneering spirit of Indian deeptech entrepreneurship across multiple high-impact sectors.
BIGShift’s inaugural cohort not only accelerates technological development but also provides critical support mechanisms like pilot project matchmaking, regulatory guidance, and facilitating enterprise collaborations. As these 13 startups transition their groundbreaking solutions from the lab to the marketplace, BIGShift is poised to be a catalyst for deeptech innovation in India, helping transform scientific research into scalable, impactful businesses that will shape the country’s technological future.
Chennai-based deep-tech startup Tan90 Thermal Solutions has raised INR 20 crore (about $2.3 million) in Series A funding, led by NABVENTURES, with participation from Blue Ashva Capital, Capital-A, and 3i Partners. The fresh capital will help Tan90 expand its energy-efficient cooling solutions across India and into Southeast Asia, the Middle East, and Africa.
Founded in 2019 by IIT alumni Soumalya Mukherjee, Rajnikant Rai, and Shiv Sharma, Tan90 develops innovative phase change materials (PCMs) that enable precise, sustainable cooling for sectors like food logistics, healthcare, and pharmaceuticals. Their technology covers temperatures from –50°C to +80°C, offering up to 40% energy savings and a significant reduction in carbon emissions.
Tan90’s Cooling-as-a-Service platform currently operates in eight Indian cities, serving clients like Swiggy Instamart and Kisaan Konnect, with plans to expand further. Recognized by organizations such as the Bureau of Energy Efficiency and UNIDO, Tan90 aims to make scalable, sustainable cooling infrastructure accessible to enterprises worldwide.
PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.
The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.
PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.
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