Fintech Startup PeLocal Raises $5 Million

September 18, 2025

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Chennai-based fintech startup PeLocal has secured $5 million in a Series A funding round, led by UNLEASH Capital Partners and Unicorn India Ventures. The fresh infusion of capital comes less than a year after the company’s earlier raise of $2 million in October 2024, reflecting growing investor confidence in PeLocal’s unique payment orchestration model.

Strong Investor Backing Fuels Expansion

The latest round, co-led by UNLEASH Capital Partners and Unicorn India Ventures, marks a significant step forward for PeLocal’s growth ambitions. According to the company, the capital will be deployed toward strengthening product development, expanding use cases, and enhancing go-to-market operations. Both investors emphasised the scalability of PeLocal’s platform and its ability to serve high-volume enterprise clients in India’s rapidly digitising economy.

AI-Powered Payments Platform Gains Traction

Founded in 2021 by Vivekanand Tripathi and Vikas Garg, PeLocal has developed an AI-powered payments orchestration system designed to integrate seamlessly with WhatsApp and other messaging applications. This innovation enables enterprises to embed payments directly into consumer communication channels, improving convenience and transaction efficiency.

The platform currently powers payments for more than 40 enterprises across sectors, including banking, financial services, insurance (BFSI), transit, and utilities. Every month, PeLocal supports over 5 million unique users and is processing an annualised payment run-rate of $500 million, a significant achievement for a three-year-old startup.

Revenue Growth and Future Roadmap

PeLocal is currently operating at an annual revenue run-rate of $1.5 million, but the company has set an ambitious target of reaching $10 million in the next 18–24 months. The newly raised funds will play a central role in accelerating this trajectory, with plans to diversify product offerings, deepen enterprise adoption, and scale operations nationwide.

Commenting on the milestone, co-founder Vivekanand Tripathi said the funding will allow PeLocal to double down on its vision of “simplifying enterprise payments and creating a seamless digital-first experience for millions of users.”

[Credits for header image: Entrepreneur
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