Funding · Financial Services

Phi Commerce raises Rs 38.54 crore in funding

By Startup Enthusiast · 20 August 2026

What they do

Phi Commerce is a Pune-based company that provides digital payment infrastructure for businesses, banks, and payment networks across various channels

The company raised Rs 38.54 crore in an ongoing Series B round from its existing investors through the issuance of preference shares

The funding follows a period of growth where the company increased its operating revenue to Rs 103.9 crore while narrowing its net losses

Phi Commerce is raising Rs 38.54 crore in an ongoing Series B funding round.
The company board approved the issuance of 57,065 Series B CCPS (Compulsorily Convertible Preference Shares) at Rs 6,754.81 per share.
Existing investors are participating in this current round of financing.
The company has raised approximately $20 million in total capital to date.
Funds will be used to strengthen payment infrastructure and expand the company's presence in the Indian digital payments ecosystem.

The company's valuation is estimated at Rs 1,505 crore following this latest capital infusion.
Phi Commerce previously raised $11 million in 2025 across two tranches from BEENEXT Ventures and DG Strategic Investment.
The company's operating revenue grew by 28% to reach Rs 103.9 crore in FY25.
Net losses narrowed by 45% to Rs 16.16 crore during the same financial year.

Phi Commerce provides omnichannel payment solutions that enable digital transactions across online, in-store, and doorstep channels.
Its flagship platform is called PayPhi.
The company serves a client base that includes businesses, banks, and payment networks.
Key products include a Payment Gateway, Smart Transaction Router, UPI Acquiring Switch, and a Tokenization Suite.
Notable clients mentioned by the company include CEAT and Aditya Birla Capital.
The company is headquartered in Pune.

BEENEXT Ventures (existing) — Largest shareholder with a 25.75% stake before the round.
Opus Softech Solution (existing) — Second-largest shareholder with a 24.12% stake before the round.

Product: A digital payments platform that supports omnichannel payment processing and integration.
Customers: Businesses, banks and payment networks.
How it makes money: Makes money by selling payment software and related payment infrastructure services.
What sets it apart: Combines online, in-store, on-the-go and doorstep payments in one platform.
Operations: Offers payment integration through APIs and plug-ins.