PayU India co-founder Shailaz Nag’s new startup, Dot, has raised an initial seed funding of around $8 million, led by PayU and Fosun RZ Capital to help offline merchants with their digitization journey.
The funding round also saw participation from Info Edge Ventures and other well-known angel investors, which include Snapdeal founders Rohit Bansal and Kunal Bahl as well as Citrus Pay co-founder Amrish Rau.
Founded in 2019, Dot is an offline-to-online commerce and fintech platform, which provides digital transformation and commerce solutions to brick and mortar outlets, while providing extensive customer engagement offerings to these stores.
Shailaz Nag, Founder, Dot, said, “There is a huge potential in the offline-to-online commerce and fintech sector, offering immense opportunities for the right product. India has the second largest number of internet users in the world and a rapidly increasing smartphone user base. This coupled with the recent digitisation push both from the government and the private sector is generating tremendous demand for digital transformation solutions by brick and mortar stores. I personally see a significant potential in this space, which has led to the conception of Dot.”
Anirban Mukherjee, CEO, PayU India, said, “Dot is a great fit to PayU’s larger vision of developing a fintech ecosystem in India and its aim to deliver a complete value proposition to our growing customers. We are creating alliances through investments in companies whose vision is aligned to ours. With this investment in Dot, we aim to play a pivotal role in helping offline merchants with their digitization journey.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.