Noida-based fintech startup Pelocal has raised $5 million in a Series A funding round led by UNLEASH Capital Partners and Unicorn India Ventures, with participation from several angel investors. This comes on the heels of its $2 million seed round in October 2024, also backed by Unicorn India Ventures.
The new funding will be used to enhance product development, expand enterprise use cases, and strengthen go-to-market strategies, the company said in a statement.
Founded in 2021 by Vivekanand Tripathi and Vikas Garg, Pelocal operates an AI-powered payments orchestration platform that enables large enterprises to acquire, engage, and collect payments directly through WhatsApp, which has over 700 million active users in India.
Its offerings cover ticketing, collections, customer onboarding, and servicing, while also building infrastructure products for the BFSI sector.
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Pelocal currently works with 40+ large enterprises across BFSI, transit, and utilities, reaching 5 million+ unique users monthly.
Since its last funding round, the company has witnessed a 6x jump in payment volumes, hitting an annualised run rate of $500 million. Looking ahead, Pelocal aims to achieve an ARR of $10 million within the next 18–24 months.
