DotPe, a technology-enabled multi-channel e-commerce platform for large and midsize merchants, raised $58m in Series B funding led by Temasek. The round saw participation from existing investors PayU, Prosus’ payments and fintech business InfoEdge Ventures. New players included Mitsubishi and Naya Capital.
The company currently serves more than 7.5 million brands, including McDonald’s, 24 Seven and Taco Bell, and is also planning a foray into financial services.
“We launched DotPe with the vision of becoming the leading enabler and disrupter in the O2O commerce segment. Our company has had a great run so far. However, existing merchants are just the tip of the iceberg in terms of market opportunity – there are millions of offline businesses in India waiting for simple, effective and affordable technology tools to scale,” said DotPe co-founder and CEO Shailaz. Harass.
“As we continue to democratize business growth opportunities through our omnichannel solutions and make technology more affordable and accessible, we also plan to move into financial services and further empower merchants to offer loans. companies and lines of credit to boost their growth,” he added.
“There are synergies between PayU’s vision for a holistic Indian merchant ecosystem and DotPe’s phenomenal work in digitizing this space. We look forward to enabling more Indian businesses to reap the benefits of digitalization and co-creating a better future for the country’s merchant community,” said Vijay Agicha, Global Head of Strategy and Growth at PayU.
DotPe provides sellers with integrated omnichannel 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, the company said in a statement.