PhiCommerce raises $10 Mn in Series A1 funding led by BEENEXT

Omnichannel payment solutions provider PhiCommerce has raised $10 million as part of its Series A1 round led by BEENEXT with participation from Opus Ventures.

BEENEXT had led a $4 million Series A round in the Pune-based startup in January 2021. The fresh funding will be used towards PhiCommerce’s expansion into international geographies and development of innovative solutions to further enhance the payments ecosystem, the company said in a press release.

PhiCommerce is a new-age payment solutions company that provides an end-to-end, unified, omnichannel digital payments platform to businesses, banks and networks. This helps address complex digital payment needs by delivering a simplified, secure, scalable, and frictionless payment experience to all customers.

PhiCommerce’s flagship product PayPhi is a one-stop solution that enables businesses to embrace digital payments across online, in-store, on-the move and doorstep channels with value-added plug-ins for various industry segments.

The company is a key platform partner of National Payments Corporation of India (NPCI).

Singapore-based BEENEXT invests in early-stage tech startups that are focused on building new digital platforms driven by the data network. Its portfolio companies include Simplilearn, NoBroker, Tata 1mg, Zomato, PhonePe, CRED, Policybazaar, Paytm, Nykaa, and Lenskart among others.