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DotPe raises about Rs 200 crore from PayU, Google, Info Edge Ventures

IT startup DotPe on Friday said it has raised around Rs 200 crore in a funding round led by Naspers firm PayU along with participation from Google and Info Edge ventures

PayU | Google | Info Edge

Press Trust of India  |  New Delhi 

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IT startup DotPe on Friday said it has raised around Rs 200 crore in a funding round led by Naspers firm along with participation from and ventures.

and Ventures are existing investors in the one-year-old startup company.

DotPe co-founder Shailaz Nag told PTI that Ventures has doubled down on its seed investment in the company made last year and has more than doubled its shareholding.

" has come up as a new investor and partner which is good for the whole ecosystem of digitising merchants. We will use the fund to expand the merchant base and build many more products that will help in digitising merchants," Nag said.

The merchants that are digitised by DotPe will be listed in search as well, Nag said.

"In the last few months, we've seen an acceleration in offline players seeking to move their businesses online. We're pleased to back young like DotPe that are supporting India's digital transformation by connecting consumers and merchants through helpful, innovative tools," Google India vice-president and country head Sanjay Gupta said.

continues to be the second biggest stakeholder in the company after DotPe promoters.

"There is not much difference between PayU stake and other investors," Nag said.

DotPe claims to have on-boarded over 50 lakh merchants within six months of launch in September 2020, which includes over 10,000 merchants.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, March 26 2021. 11:43 IST