Pelocal, a fintech startup based in India, has raised US$5 million in a funding round led by Unleash Capital Partners and Unicorn India Ventures, with participation from angel investors.

Founded in 2021 by Vivekanand Tripathi and Vikas Garg, Pelocal provides an AI-powered payments orchestration platform that allows enterprises to embed payment functions into WhatsApp and other messaging apps.

The startup plans to use the new capital for product development and to strengthen its market strategy.

Pelocal’s platform is currently used by more than 40 enterprises in sectors such as banking, insurance, transit, and utilities, including Canara HSBC Life Insurance, Delhi Metro, and Mahanagar Gas.

The company said its annualized payment volume now exceeds US$500 million, with an annual revenue run rate of over US$1.5 million.

🔗 Source: The Economic Times