Omnichannel payment solutions provider Phi Commerce is set to raise Rs 38.54 crore (approximately $4 million) in an ongoing Series B round from existing investors.The fresh fundraise comes nearly a year after the company raised $11 million across two rounds from existing investors BEENEXT Ventures and DG Strategic Investment, both rounds were covered by Entrackrexclusively. According to its regulatory filing accessed byEntrackr, the company’s board will issue 57,065 Series B CCPS at an issue price of Rs 6,754.81 per share to raise the aforementioned sum.The filing does not disclose the names of the participating investors. According toEntrackr’sestimates, Phi Commerce’s is set to raise the fresh funding at a valuation of around Rs 1,505 crore up from Rs 1,361 crore or $161 million in the previous round. Phi Commerce is a digital payments company offering a unified omnichannel payments platform for businesses, banks, and networks. Its flagship platform, PayPhi, enables digital transactions across online, in-store, on-the-go, and doorstep channels. Pune-based Phi Commerce has raised around $20 million to date. Prior to this round, BEENEXT held the largest stake in the firm with 25.75% stake followed by Opus Softech Solution, which held 24.12%. Meanwhile, co-founders Jose Thattil, Anil Sharma, Tushar Shankar, and Rajesh Londhe collectively retain a 33.7% stake in the company. The company is yet to file its FY26 financials.In FY25, Phi Commerce’s operating revenue grew 28% to Rs 103.9 crore from Rs 81.3 crore in FY24, while its loss narrowed 45% to Rs 16.16 crore from Rs 29.24 crore. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
