home Uncategorized Google-Backed DotPe Raises $54.5 Mn From Temasek, MUFG Bank, Others Debarghya Sil

Google-Backed DotPe Raises $54.5 Mn From Temasek, MUFG Bank, Others Debarghya Sil

Gurugram-based payments service provider and commerce platform DotPe has raised about $54.5 Mn in a new funding round led by Temasek. The round also saw participation from PayU, Japan’s MUFG Bank, Naya Global Investments Pte, and Info Edge Ventures. 

In an extraordinary general meeting held on September 14, 2022, the startup’s board passed a resolution to allot 20 equity shares and 7,327 Series C cumulative compulsory convertible participatory preference shares at an issue price of INR 5,91,525 apiece to the five investors, according to its regulatory filing. 

While new investors Temasek and MUFG Bank have received 10 equity shares each, the other existing investors have received Series C CCPS. 

As per Inc42’s estimates, the startup was valued at $240 Mn in the funding round.

Post the allotment of shares, PayU will continue to hold 22.6% stake in the startup on a fully diluted basis. Meanwhile, Temasek’s investment arm V-Sciences Investments Pte. Ltd will hold 7.75% stake and MUFG Bank will hold 3.88% stake. 

Together, PayU, Info Edge, Temasek, Naya Global Investments Pte Ltd, and MUFG Bank will hold 40.3% stake in the startup. 

The fresh round of investment comes almost a year after DotPe acquired Rista to foray into point-of-sale business. The acquisition enabled DotPe to introduce offerings for offline merchants as well. 

Founded by Gyanesh Sharma, Anurag Gupta along andShailaz  Nag in 2020, DotPe offers payment services to offline and online enterprises. Besides, it also helps offline enterprises go online and provides order management services. The startup claims that its services are used by over 7.5 Mn merchants across the world. Barista, Social, Wat-a-Burger, and The Big Chill Cafe are among the brands using its solutions.

Earlier, the startup had raised $27.5 Mn in its Series A round led by Google. The funding round also saw participation from Info Edge Ventures and PayU.

The development was first reported by Entrackr

The post Google-Backed DotPe Raises $54.5 Mn From Temasek, MUFG Bank, Others appeared first on Inc42 Media.

Gurugram-based payments service provider and commerce platform DotPe has raised about $54.5 Mn in a new funding round led by… News, B2BInc42 Media

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