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DotPe secures USD 55 mln funding round

Tuesday 20 September 2022 09:02 CET | News

India-based offline payment service provider DotPe has raised a USD 55 milion funding round led by Tamasek.

 

The round, which also saw participation of investors PayU Fintech Investment, Info Edge Ventures, MUFG Bank Ltd and Naya Global Investments, takes the total fundraise to about USD 90 million via three institutional rounds, to date. Until now, the company has raised a USD 27.5 million Series A round from PayU, Info Edge, and Google in March 2021 and a USD 7.5 million seed round in February 2020.

 

IndDotPe has raised a USD 55 milion funding round led by Tamasek.

Details of the acquisition

After finishing deliberations that started in May 2022, DotPe and Tamasek agreed, as per the regulatory filing, to pass a resolution to allot 20 equity shares and 7,327 Series C cumulative compulsory convertible participatory preference shares to the five investors to raise USD 55 million.

After the allotment, PayU will continue to hold 22.6% stake in DotPe on a fully diluted basis while Temasek’s investment arm V-Sciences Investments Pte Ltd will hold 7.75% stake and MUFG Bank will hold 3.88% stake.

Recent acquisitions of DotPe

In September 2021, the startup bought billing point-of-sale (POS) company Rista for an undisclosed amount, to foray into point-of-sale business.

The company aims to introduce more solutions to ensure the smallest businesses have access to technology that can help them scale their business. By having Rista’s team onboard, DotPe will be able to deliver an end-to-end commerce experience to both small merchants and large brands.

What does DotPe do?

Founded in 2020, DotPe provides a full-stack payment and commerce solutions to offline retailers to enable them to digitise their offering, along with order management services and customer engagement solutions like marketing, logistics etc.

DotPs claims it has a customer base of about 7.5 million merchants across the world and is providing services to brands like Barista, Social, Wat-a-Burger, The Big Chill Cafe, and BiryaniBlues.



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Keywords: investment, funding, digitalisation, acquisition, POS, ecommerce
Categories: Payments & Commerce
Companies: DotPe
Countries: India
This article is part of category

Payments & Commerce

DotPe

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