Cross-border payments startup PayGlocal is set to raise Rs 36.38 crore ($3.84 million) from existing investor BEENEXTin its first funding round in more than four years. PayGlocal last raised $12 million in its Series B round led by Tiger Global, with participation from Sequoia Capital India and BEENEXT. Entrackr hadexclusivelyreported the round. The board at PayGlocal has passed a special resolution to issue 5,074 compulsory convertible preference shares (CCPS) at an issue price of Rs 71,693.02 per share to raise Rs 36.38 crore, according to its regulatory filings accessed byEntrackr.As perEntrackr’sestimates, the Bengaluru based company's valuation will increase 31.8% to Rs 1,140 crore or ($120 million) from Rs 865 crore in its previous funding round. Founded in 2021 by Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande, PayGlocal provides RBI-authorised cross-border payment infrastructure that enables Indian businesses to accept international payments. The company earns revenue by offering payment gateway, multi-currency collection, export documentation, fraud prevention, and settlement solutions to exporters, SaaS firms, D2C brands, marketplaces, and freelancers. Following the allotment, Peak XV will remain the largest external shareholder with a 34.04% stake, followed by BeeNext (6.14%) and Tiger Global (5.21%), while co-founders Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande will hold 18.92%, 14.19%, and 13.37%, respectively. Prior to this round the company has raised around $17 million to date. Key investors Tiger Global, Sequoia Capital India (now Peak XV Partners), BEENEXT, and other existing investors.The company is yet to file its FY26 financial statements. In FY25, PayGlocal's operating revenue more than doubled to Rs 25.11 crore from Rs 12.20 crore in FY24, while its losses declined to Rs 14 crore from Rs 15.31 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.
