Payments startup Perpule raises seed investment from Kalaari Capital

Bengaluru-based Delvit Solutions Pvt Ltd, which operates fintech startup Perpule, has raised $650,000 (around Rs 4.2 crore) from KStart Capital, the seed investment platform of venture capital firm Kalaari Capital.

The round also saw participation from Venture Highway and Raghunandan G, co-founder of TaxiForSure, a company statement said.

The company will use the funds to expand its team and operations across cities.

Perpule was founded by Abhinav Pathak, Yogesh Ghaturle and Saketh BSV in July 2016. Pathak and Ghaturle were both previously working at Goldman Sachs before launching the startup. Saketh BSV is a final year graduate student at National Institute of Technology, Karnataka.

For customers, the Perpule 1Pay app allows them to do express checkouts and make easy payments at retail supermarkets such as HyperCITY and Spar, among others. It also provides information on ongoing offers at stores and product recommendations. The app is currently operational in Bangalore, Mumbai and Noida. For retailers, the smartphone-based software solution can be used to gain deep insights about customers and enables them to create personalised real-time campaigns.

“There is enormous potential for their solution as more and more retailers are converting to the organised segment. The data generated by the system provides a great opportunity for analytics by deriving metrics,” Samir Sood, investor and founder of early-stage seed fund Venture Highway.

Through KStart, its seed and incubation programme, Kalaari Capital plans to invest about $20 million (around Rs 135.7 crore) in 40 startups over the next two years.

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