Retail-focused fintech startup Perpule has scooped up $4.7 million in its Series A round led by Prime Venture Partners. Existing investors Kalaari Capital, and Venture Highway also participated in the round.
The Bengaluru-based startup had earlier raised $650,000 in the seed round led by Kstart Capital, the sister concern of Kalaari in March 2017. Venture Highway and Raghunandan G, co-founder of TaxiForSure also participated in the round.
The Abhinav Pathak-led startup will use the latest proceeds to expand into more outlets across 10 cities by 2019.
A brainchild of Pathak, Saketh BSV and Yogesh Ghaturle, Perpule through its flagship product 1Pay enables mobile app based self checkouts and queue management solutions for offline stores.
Besides, it provides a self-checkout, omnichannel engagement and payment platform for offline stores.
Currently, it works with some big retailer such as Big Bazaar, Vishal Mega Mart, SPAR, MORE, HyperCITY, as well as with Quick Service Restaurants (QSRs) such as KFC.
The startup’s website reflects that through Perpule app customers can discover its partnered stores based on the GPS location and get the available offers running. Further, it allows customers to shop in store or get the same products online.
Purpule enables a slew of payment options like UPI, Cards, Wallets, Debit/Credit Cards. Customers can browse their previous orders and track the expenses.
Among the lead investors, Kalaari has been aggressively investing in Indian startups. In 2018, the VC firm has invested in over 10 startups including Vokal, Hiver, Cure.fit, Milkbasket, Rubique, and UrbanLadder.
The development was reported by ET.