The round was led by its early investor, PayU, the payments and fintech business of Prosus, resulting in an increase in the existing stake in the company.
Ventures has doubled down on its seed investment in the company made last year and more than doubled its shareholding. Google joins as a new investor.
“This new partnership will empower businesses to be more discoverable, expand business avenues and conduct commerce like never before,” said Shailaz Nag, Cofounder, DotPe. “Pandemic or not, we are here to reimagine the way offline businesses work and bring the digital revolution to the doorstep of every entrepreneur”.
DotPe has made some key hires in the recent months. The fresh funding will be deployed towards accelerating product development, market expansion and scaling technology to meet the fast-growing market demand.
Started by ex-PayU Founder Shailaz Nag with Gyanesh Sharma and Anurag Gupta in 2020, DotPe has successfully digitized enterprise as well as SMB merchants through a full-stack solution- from giving them an online presence to enabling seamless ordering, online payments and delivery.
“In a very short time, DotPe has acquired a promising merchant base with its impeccable product experience and innovation,” said Anirban Mukherjee, CEO, PayU India. “We have always believed in fostering innovation by working with such disruptive, early-stage start-ups.”
In the last 12 months, over 5 million Indian consumers have switched to the hassle-free way of ordering and buying from DotPe’s merchants using its platform. Over 38% of orders daily are now through repeat consumers.
“DotPe has seen rapid adoption by merchants across industries- enterprises and SMBs- within a year of launch,” said Kitty Agarwal, Partner, Info Edge Ventures. “The product experience and merchant and consumer stickiness is best-in-class with many marquee brands now expanding use cases with them and integrating even more deeply.”
“In the last few months we’ve seen an acceleration in offline players seeking to move their businesses online,” said Sanjay Gupta, VP & Country Head, Google India. “This investment under Google for India digitization fund underlines our belief in working with India’s start-up ecosystem towards the goal of building a more
inclusive digital economy that will benefit everyone.”