Fintech startup PayGlocal bags $12 million in the Series B round of funding from Tiger Global and others
- ByStartupStory | June 18, 2022
PayGlocal, a fintech platform, has secured $12 million in a Series B fundraising round headed by Tiger Global, with Sequoia Capital India and BeeNext also participating in the respective round.
According to PayGlocal’s regulatory filings with RoC, the board of directors has issued a special resolution to allot 16,510 Series B compulsory cumulative preference shares at an issue price of Rs 56,315.73 per share in order to raise Rs 93 crore or $12 million.
PayGlocal has received its second round of funding in the previous six months. In December 2021, the firm completed a $4.9 million Series A investment headed by Sequoia India, with participation from BeeNext, Jitendra Gupta, and Amrish Rau.
Tiger has put in Rs 46.3 crore, followed by Sequoia and Beenext with Rs 33.01 crore and Rs 8.56 crore, respectively. Amrish Rau, Sweta Rau, Jitendra Gupta, and Ruby Jain, along with QED Innovation, have invested a total of Rs 5.1 crore. Following the Series B fundraising, the firm was valued at roughly $110 million, or Rs 865 crore.
PlayGlocal, founded by Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande, allows merchants to accept payments from international consumers by providing end-to-end processing, risk management, and a global payment stack. Payments are accepted in over 100 currencies by the Bengaluru-based business.
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