PhiCommerce, a Pune-centered omnichannel payment solutions firm, has raised $10 million in a Series A1 funding round led by Singapore's BEENEXT, with participation from Opus Ventures. Established in 2015, the company aims to use the funds for global expansion and improving its range of products. CEO and Co-Founder Jose Thattil explained, "We intend to deploy these funds in the upcoming phase of our expansion to introduce several new products aimed at further simplifying digital payments and enhancing overall efficiencies in the ecosystem".

Thattil, an experienced professional with more than 20 years in retail payments, emphasized PhiCommerce's flagship platform, PayPhi, as a triumph. The API-centric solution seamlessly integrates into existing systems, enabling merchants to manage payments across online, in-store, and mobile channels. As part of its expansion strategy, PhiCommerce aims to broaden its services beyond India.

"PhiCommerce has effectively addressed intricate payment needs and demonstrated its ability to process digital payments on a large scale within the Indian market through its omnichannel payment platform", remarked Hero Choudhary, Managing Partner at BEENEXT. BEENEXT, a VC firm based in Singapore, focuses on early-stage technology startups and boasts a portfolio of over 40 companies, including nine unicorns. With support from BEENEXT and Opus Ventures, PhiCommerce is positioned to navigate the global arena, offering innovative solutions to businesses seeking smooth and efficient digital payment experiences.