Payment Solutions App PayGlocal raises $4.9 million in Series A round of funding
- ByTejika Bajaj | December 3, 2021
Payment solutions app PayGlocal recently announced that it has raised a consolidated amount of $4.9 million in its Series A round of funding. The round was led by Sequoia Capital and saw participation from investors like BeeNext, Jitendra Gupta and Amrish Rau.
The startup intends to utilize the recently infused capital to grow its merchant ecosystem, scale up its products and expand the team. The platform is also looking forward to scaling its merchant acquisition pipeline in the next year.
Talking about her startup and elaborating in the key concept that it is based upon, the co-founder and CEO of PayGlocal, Prachi Dharani said, “Indian merchants are facing challenges in accepting payments from an exponentially growing global consumer base as the current payment solutions aren’t exactly designed to process their payments made via cards issued abroad. We knew that we had a huge opportunity to unlock cross-border growth for nearly every business owner out there if we could address this problem. So, we put together our years of experience working in the Indian financial ecosystem to develop PayGlocal. Our solution cuts through complexities and optimizes payment performance across the board. It enables Indian merchants to collect payments from international customers through bank cards very seamlessly.”
PayGlocal partners with private and public sector banks to run a globally operable stack that makes international payment acceptance available to a large number of merchants.
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