Payment solutions provider PhiCommerce raises $10-M from Beenext, Opus Ventures

Pune-based omnichannel payment solutions provider PhiCommerce has raised USD 10 million in a Series A1 round led by Singapore-based venture capital firm Beenext, with participation from Opus Ventures. The company plans to use the funds for international expansion and to bolster its product portfolio. Established in 2015, PhiCommerce caters to businesses across online, in-store, and mobile channels. Its flagship platform, PayPhi, is an API-first solution that integrates with existing systems, enabling merchants and businesses to collect, process, and distribute payments.