DotPe raises $58 mn in series B, plans entry into financial services

DotPe, a tech-enabled multi-channel e-commerce platform for big and medium-scale merchants, has raised $58 million in Series B funding led by Temasek. The round saw participation from existing investors PayU, the payments and fintech business of Prosus, InfoEdge Ventures. New players included Mitsubishi and Naya Capital.

The firm currently serves over 7.5 million brands including McDonald’s, 24 Seven and Taco Bell and is also planning a foray into financial services.

“We started DotPe with a vision of becoming the primary enabler and disruptor in the O2O commerce segment. Our company has had a great run so far. However, existing merchants are barely the tip of the iceberg in terms of the market opportunity – there are millions of offline businesses in India waiting for simple, effective & affordable tech-led tools to scale,” said DotPe’s Co-Founder and CEO, Shailaz Nag.

“As we keep democratising opportunities for business growth with our omni-channel solutions and making technology more affordable and accessible, we also plan to foray into financial services and further empower merchants with business loans and credit lines to turbocharge their growth,” he added.

“There are synergies between PayU’s vision for a holistic Indian merchant ecosystem and DotPe’s phenomenal work in digitising this space. We look forward to empowering more Indian businesses with the benefits of digitization and co-creating a brighter future for the country's merchant community," said Vijay Agicha, Global Head of Strategy and Growth at PayU.

DotPe provides sellers integrated omni-channel solutions to run, manage, and grow their business with an ecosystem of commerce solutions, marketing software, and banking services. The platform is a one stop destination that serves all types and sizes of business owners from SMBs to Fortune 500 brands, said the firm in a statement.