Pelocal Raises $5M in Series A Funding
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Pelocal, a fintech company, secures USD 5 million in Series A funding led by UNLEASH Capital & Unicorn India Ventures. Plans for growth.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Sep 16 (PTI) Noida-based fintech company Pelocal on Tuesday said it has raised USD 5 million (about Rs 44 crore) in a Series A round led by UNLEASH Capital Partners and Unicorn India Ventures.
With this fresh infusion, the company plans to speed up product development, scale its existing use cases, and strengthen its go-to-market strategy, according to a company statement.
Pelocal has set a target of reaching an annual recurring revenue (ARR) of USD 10 million within the next 1824 months.
The company had earlier raised USD 2 million in a seed round in October 2024, which was also led by Unicorn India Ventures.
With this fresh infusion, the company plans to speed up product development, scale its existing use cases, and strengthen its go-to-market strategy, according to a company statement.
Pelocal has set a target of reaching an annual recurring revenue (ARR) of USD 10 million within the next 1824 months.
The company had earlier raised USD 2 million in a seed round in October 2024, which was also led by Unicorn India Ventures.
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