The company Dotpe has raised more than a dot as they are ready to expand all over the country. The company has raised $ 23.4 million from major companies. To get into the details; let’s get into article.
BACKGROUND ABOUT DOTPE
The company is a private tech start-up based in Gurugram that helps to provide commerce payments platform to the brick & mortar enterprises. It was established in the year 2020. They have tried to sell, manage & engage the customers. It helps people to reach their market efficiently in a direct & prominent manner. The services provided are basically:
- Catalogue Discovery
- Customer Engagement
- In-store ordering
- Payment experience
The catalogue discovery provides enough scope to improve the in-store experience for customers. The facility to order digitally and experience the payment trends so that the customers have a non-stop relation with the brand without getting anyone in between.
The major competitors with Dot are Dukaan, Khatabook, OkCredit and Bikayi.
DETAILS ABOUT RAISE
The company was able to get a funding of Rs. 170.5 crore in its B round which was concluded by the payment leader PayU. The start-up engaged in the allotment mentioned as follows:
10 equity shares
7123 preference shares
Issue price- Rs. 2,38,976 per share
The PayU investments participated in the fresh round with Rs 72.55 crore which was then added upon by Rs.61.66 crore from InfoEdge Ventures and Rs. 36.25 from google international. The current valuation of company now stands at $ 84 million. During the series A funding the valuation stood at $ 7.8 million
This is predominantly the biggest jump that any company can make in a span of 12 months. There has been probably a four-fold jump in the concerned valuation.
CURRENT SHAREHOLDING PATTERN
The largest stakeholder is undoubtedly PayU. The present shareholding pattern of the Dotpe now has been quite interesting mentioned below:
MORE ABOUT PAYU
The company PayU is a fintech company based in Netherlands established in 2002. It is under the ownership of Naspers Group. They focus on providing tech solutions to merchants across the globe.
They currently serve 17 countries. Offering access to more than 50 markets through 400 plus payment methods using a single API integrated mechanism. The major solutions offered are cross-border payments, marketplace solutions, payment security and many more.
Businesses traditionally had two major objectives; survival and growth. But as things changed; globalization made its way through our waters, what we want is a breakthrough technology whether it is fintech, heathtech, ed-tech or online groceries.
The focus is on the tech part. Being electronic has benefitted the fintech sector to the largest because they now have an opportunity to enter the pockets which were untouched. Companies like Dotpe are surely aiming big ; because no other possible way they can be in market having such trusted back-ups like google international and PayU who have seen the segment since the past 20 years.
It is a big milestone achieved; but the expectations bar is also quite high. The competition is tough and will surely affect the way in which the things will eventually turn out.