India-based FinTech DotPe, which has built an offline-to-online (O2O) commerce platform, has closed its Series A round on $27.5m.
With the close of the round, DotPe claims to be the first O2O company in India to receive a substantial amount of investment capital within a year from its launch.
The round was led by PayU, which increased its existing stake within the company. Other commitments came from Edge Ventures and Google.
Capital from the round will be used to hire more staff, accelerate product development, bolster market expansion efforts and scale its technology to meet market demand.
DotPe was founded in 2020 by former PayU founder Shailaz Nag, alongside Gyanesh Sharma and Anurag Gupta.
It claims to have integration with more than 10,000 restaurants and food courts and is being used by over five million SME merchants.
DotPe offers SMEs the tools to let customers book online whilst in the store, order through WhatsApp and pay for products digitally.
DotPe co-founder Shailaz Nag said, “We are thrilled to see our existing investors, PayU and Info Edge Ventures, backing our vision and doubling down on their funding as new business horizons open up. We are pleased to add Google, an innovation leader, as an investor.
“This new partnership will empower businesses (big or small) to be more discoverable, expand business avenues and conduct commerce like never before. Pandemic or not, we are here to reimagine the way offline businesses work and bring the digital revolution to the doorstep of every entrepreneur.”
Copyright © 2021 FinTech Global
