Highlights
PayGlocal Secures Rs 36.38 Crore in Latest Funding Round
Cross-border payments startup PayGlocal is poised to raise Rs 36.38 crore ($3.84 million) from existing investor BEENEXT, marking its first funding round in over four years. Previously, PayGlocal successfully raised $12 million in its Series B funding, which was led by Tiger Global and supported by Sequoia Capital India and BEENEXT. This information was initially reported by Startup Superb.
Funding Details
The board of PayGlocal has approved a special resolution to issue 5,074 compulsory convertible preference shares (CCPS) at an issue price of Rs 71,693.02 each to accumulate Rs 36.38 crore, as detailed in their regulatory filings.
Valuation Increase
According to estimates from Startup Superb, the Bengaluru-based company’s valuation is expected to rise by 31.8%, reaching Rs 1,140 crore ($120 million) compared to Rs 865 crore during its previous funding round.
PayGlocal’s Operations
Established in 2021 by Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande, PayGlocal offers an RBI-authorised cross-border payment infrastructure that allows Indian businesses to receive international payments. The company generates revenue by providing payment gateways, multi-currency collections, export documentation, fraud prevention, and settlement services to exporters, SaaS companies, D2C brands, marketplaces, and freelance professionals.
Following the issuance, Peak XV will remain the largest external shareholder with a 34.04% stake, followed by BEENEXT at 6.14% and Tiger Global with 5.21%. Co-founders Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande will hold stakes of 18.92%, 14.19%, and 13.37% respectively.
Previous Funding and Revenue
Prior to this funding round, PayGlocal had raised approximately $17 million. Key investors include Tiger Global, Sequoia Capital India (now Peak XV Partners), BEENEXT, along with other existing backers. The company has yet to file its FY26 financial statements. In FY25, PayGlocal’s operating revenue more than doubled, increasing to Rs 25.11 crore from Rs 12.20 crore in FY24, while its losses lowered to Rs 14 crore from Rs 15.31 crore.