Dotpe, a Haryana (India) based enterprise digitising platform, announced on 26th March 2021 that it has raised US $ 27.5 million in its Series A round. The round was led by PayU along with participation from Google and Info Edge.
Investors: PayU is a Netherlands based payment service provider that was founded in 2011 by José Fernando Velez, Martin Schrimpff, Nitin Gupta, Shailaz Nag and Yunus Emre Güzer.
Its vision statement reads as follows – “At PayU, our vision is to create a world without financial borders where everyone can prosper. We give people in high-growth markets the financial services and products they need to thrive.”
Purpose of investments: The current round of investment can be viewed as an extension of its Series A round that was held in February 2020. The investments, according to Dotpe, would be utilised to facilitate its product development, focus on market expansion and scale technology to meet the fast-growing market requirements.
About Dotpe:
Dotpe was founded in 2019 by Anurag Gupta, Shailaz Nag and Gyanesh Sharma. It is essentially an offline to online platform that enables brick and mortar enterprises to scale their businesses by enabling them to conduct their business and payments in an online mode.
This feature enables offline businesses to become more discoverable, acquire more customers and revolutionise the way they conduct their businesses.
Coming to numbers, Dotpe claims that it has over 5 million merchants operating on its platform and over 5 million Indian customers have used their platform in the last 12 months to make hassle-free purchases.
What the founder and the Investors have to say:
“In a very short time, DotPe has acquired a promising merchant base with its impeccable product experience and innovation. We have always believed in fostering innovation by working with such disruptive, early-stage startups.” —Anirban Mukherjee, CEO, PayU India.
“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.”— Shailaz Nag, co-founder of Dotpe.
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