Payments Startup Phi Commerce Raises $4 Mn In Series A Round Led By BEENEXT
Founded in 2015, Phi Commerce has created PayPhi, an omnichannel payment processing platform which processes digital payments at doorstep, online and in-storeFounded in 2015, Phi Commerce has created PayPhi, an omnichannel payment processing platform which processes digital payments at doorstep, online and in-store PayPhi processes payments across a range of form factors such as cards, net-banking, UPI, Aadhaar, BharatQR, wallets, NEFT, RTGS, and NACH Phi Commerce would utilise the funds to bolster its product offering, expand in existing markets and enter new geographies, as per a statement.
Phi Commerce is a omnichannel, API-first platform – PayPhi addressing payments collection, processing & distribution requirements across online, in-store & on-the-go channels. PayPhi enables use-case specific payments flows, subscription billing, API based backend integration, frictionless digital collections at doorstep, flexible EMI payments, split settlements, last mile notifications, automated reconciliation, and value-added services.
Impact Story: A pune based Payments startup is processing more than 100 million monthly transactions and has presence across Tier 1 to Tier 3. Phi Commerce is working with likes of NPCI, HP gas etc on digitising various payments use case for them.
Phi Commerce one of the winner from Maharashtra Startup Week 2019 has previously enagaged with MahaTransco, Fisheries Dept., Maharashtra Police, and IUMS for a offering a possible payments solution to the respective department. Phi Commerce has raised $4.8 Million from BEENEXT venture and Yatra Angel Network in Jan 2021.