Fintech Business Pelocal Secures USD 5 Million in Series A Financing
Pelocal, a Noida-based fintech startup, has announced a successful Series A funding round, raising $5 million. This round was led by UNLEASH Capital Partners and Unicorn India Ventures, with participation from several prominent angel investors and UNLEASH Capital Partners.
Founded in 2021 by Vivekanand Tripathi and Vikas Garg, Pelocal operates an AI-driven payments orchestration platform within WhatsApp. Since its previous funding round, the company claims to have recorded six-fold growth in total payment value.
The funding details were disclosed in a company statement. Since its inception, Pelocal has been building technology infrastructure for enterprises in the banking, financial services, and insurance sector, as well as in other industries such as transit and utilities. The startup now serves over 40 large enterprises and reaches more than 5 million unique users each month.
Pelocal's platform supports functions such as ticketing, collections, customer onboarding, and servicing. The fresh capital will be used to accelerate product development, broaden existing use cases, and strengthen go-to-market initiatives.
In a statement, Vivekanand Tripathi, Founder and Chief Executive Officer of Pelocal, stated the company's vision to bring last-mile payments to the masses via WhatsApp by leveraging AI and advanced technologies. He expressed his ambition for Pelocal to achieve USD 10 million in annual recurring revenue within the next two years.
Besides UNLEASH Capital Partners and Unicorn India Ventures, the Series A funding round of Pelocal included participation from several prominent angel investors. The earlier seed round, in October 2024, was also backed by Unicorn India Ventures.
Pelocal operates as an international franchise of our brand name Media. The startup had earlier secured USD 2 million in its seed round. With this latest funding, Pelocal now operates at an annualised payment run rate above USD 500 million.
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