Dotpe raises $55Mn in a new funding round

Google-backed e-commerce enablement platform Dotpe has raised a new round led by Temasek which invested $19 million with other investors like PayU Fintech Investment, Info Edge Ventures, MUFG Bank Ltd and Naya Global Investments.

The board at Dotpe has passed a special resolution to issue 20 equity and 7,327 compulsory cumulative preference shares at an issue price of Rs 5,91,525 per share to raise $55 million.

After the allotment, PayU will continue to hold 22.6% stake in DotPe on a fully diluted basis while Temasek’s investment arm V-Sciences Investments Pte Ltd will hold 7.75% stake and MUFG Bank will hold 3.88% stake.

DotPe provides full-stack payment and commerce solutions to offline retailers to enable them digitise their offering, along with order management services and customer engagement solutions like marketing, logistics etc.

The Gurgaon-based offline payment service provider claims to have a customer base of about 7.5 million merchants across the world and is providing services to brands like Barista, Social, Wat-a-Burger, The Big Chill Cafe and BiryaniBlues.