Exclusive: Phi Commerce plans to seek additional capital at Rs 1,500 Cr valuation
Phi Commerce, a supplier of omnichannel payment solutions, plans to raise Rs 38.54 crore (about $4 million) from current investors in a current Series B transaction.
Nearly a year has passed since the firm raised $11 million in two rounds from current backers BEENEXT Ventures and DG Strategic Investment.
The company’s board will issue 57,065 Series B CCPS at an issue price of Rs 6,754.81 per share in order to raise the aforementioned amount, according to its regulatory filing that was viewed by the media.
The names of the participating investors are not disclosed in the filing.
Media believes that Phi Commerce will raise the additional funds at a valuation of around Rs 1,505 crore, up from Rs 1,361 crore.
Phi Commerce is expected to raise the additional funds at a valuation of approximately Rs 1,505 crore, up from Rs 1,361 crore, or $161 million, in the last round, according to media reports.
A digital payments company called Phi Commerce provides banks, networks, and companies with a single omnichannel payment platform. Digital transactions via online, in-store, on-the-go, and doorstep channels are made possible by its flagship platform, PayPhi.
To date, Pune-based Phi Commerce has raised almost $20 million. BEENEXT had a 25.75% stake in the company before this financing, followed by Opus Softech Solution with a 24.12% stake. Jose Thattil, Anil Sharma, Tushar Shankar, and Rajesh Londhe, the company’s co-founders, together own 33.7% of the business.
The business has not yet submitted its FY26 financial statements. Phi Commerce’s operating income increased by 28% to Rs 103.9 crore in FY25 from Rs 81.3 crore in FY24, but its loss decreased by 45% to Rs 16.16 crore from Rs 29.24 crore.
