Shailaz Nag, Anurag Gupta, and Gyanesh Sharma: Visionaries Reshaping Offline Commerce with DotPe’s $55 Million Funding Boost

In a significant stride towards transforming offline commerce, DotPe, the Gurgaon-based offline payment service provider and commerce platform, recently secured a substantial $55 million in a funding round led by Temasek. This funding injection, along with the backing of notable investors such as PayU Fintech Investment, Info Edge Ventures, MUFG Bank Ltd, and Naya Global Investments, underscores DotPe’s growing prominence in the digital commerce landscape. The total fundraise now stands at an impressive $90 million, a testament to the platform’s robust growth and innovative offerings.

Founded in 2020 by Shailaz Nag, co-founder of PayU, along with Gyanesh Sharma and Anurag Gupta, DotPe has been on a trajectory of rapid evolution. The company offers a comprehensive suite of payment and commerce solutions tailored for offline retailers. DotPe empowers these businesses to digitize their operations seamlessly, providing not only payment solutions but also order management services and customer engagement tools, including marketing and logistics.

The recent funding round, spearheaded by Temasek, signifies a vote of confidence from key players in the investment landscape. The participation of investors such as PayU Fintech Investment, Info Edge Ventures, MUFG Bank Ltd, and Naya Global Investments further solidifies DotPe’s strategic positioning in the market. The total fundraise includes a $27.5 million Series A round from PayU, Info Edge, and Google in March 2021, as well as a $7.5 million seed round in February 2020.

The regulatory filing indicates the issuance of equity shares and Series C cumulative compulsory convertible participatory preference shares at an issue price of Rs 5,91,525 per share. Post-allotment, PayU will retain a 22.6% stake in DotPe on a fully diluted basis. Temasek’s investment arm, V-Sciences Investments Pte Ltd, will hold a 7.75% stake, and MUFG Bank will secure a 3.88% stake in the company.

DotPe’s value proposition extends beyond payment processing, encompassing a full-stack approach to commerce solutions. The platform’s services include order management, enabling businesses to streamline their operations efficiently. Additionally, DotPe provides customer engagement solutions, contributing to marketing efforts, logistics, and overall brand enhancement. In a strategic move to diversify its offerings, DotPe acquired the billing point of sale (POS) company Rishta in September 2021. This acquisition marked DotPe’s foray into the point-of-sale business, expanding its capabilities and reach within the broader commerce ecosystem.

DotPe’s impact is felt on a global scale, boasting a substantial customer base of approximately 7.5 million merchants worldwide. The platform has successfully extended its services to prominent brands such as Barista, Social, Wat-a-Burger, The Big Chill Cafe, and BiryaniBlues, showcasing its versatility and adaptability across diverse business sectors. The visionary leadership of Shailaz Nag, Anurag Gupta, and Gyanesh Sharma has been instrumental in shaping DotPe’s trajectory. Leveraging their collective expertise, the co-founders have positioned DotPe as a transformative force in the realm of offline commerce, redefining how businesses engage with digital solutions.

As DotPe continues to innovate and expand its footprint, the infusion of $55 million in fresh funding serves as a catalyst for future growth. The platform’s commitment to digitizing offline commerce aligns with broader industry trends, where seamless digital experiences are becoming imperative for businesses to thrive in an evolving market landscape.