Fintech Startup Pelocal Bags USD 5 Mn in Series A Funding The fresh capital will be deployed to accelerate product development, broaden existing use cases, and strengthen go-to-market initiatives.

By Entrepreneur Staff

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[L-R] Vikas Garg and Vivekanand Tripathi, Co-founders of Pelocal

Noida-based fintech startup Pelocal has raised USD 5 million in its Series A funding round led by UNLEASH Capital Partners and Unicorn India Ventures, with participation from several angel investors.

The company had earlier secured USD 2 million in a seed round in October 2024, also backed by Unicorn India Ventures.

The fresh capital will be deployed to accelerate product development, broaden existing use cases, and strengthen go-to-market initiatives, according to a company statement.

Founded in 2021 by Vivekanand Tripathi and Vikas Garg, Pelocal operates an AI-driven payments orchestration platform that allows large enterprises to acquire, engage, and collect from customers directly within WhatsApp.

The platform leverages the chat app's massive base of more than 700 million active users in India and supports functions such as ticketing, collections, customer onboarding, and servicing. The company is also building technology infrastructure for enterprises in the banking, financial services, and insurance sector.

"Our vision is to bring last-mile payments to the masses via WhatsApp by leveraging AI and advanced technologies. This fundraise enables us to execute that mission, and we're thrilled to have the support of investors who share our conviction," said Vivekanand Tripathi, Founder and Chief Executive Officer of Pelocal.

Pelocal claims to serve over 40 large enterprises across sectors including BFSI, transit, and utilities, reaching more than 5 million unique users each month.

Since its previous funding round, the company claims to have recorded six-fold growth in total payment value and now operates at an annualised payment run rate above USD 500 million. It aims to achieve USD 10 million in annual recurring revenue within the next two years.
Entrepreneur Staff

Entrepreneur Staff

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