Phi Commerce raising $5 million from existing investors
17 Apr 2025, 05:41 PMThe company is raising funds through a rights issue from its existing investors, likely including BEENEXT and Opus Technologies.
Team Head&Tale
Share the story on
Payment aggregator firm Phi Commerce is reportedly raising Rs 42.74 crore (approximately $5 million) at over $154 million valuation.
The company is raising funds through a rights issue from its existing investors, likely including BEENEXT and Opus Technologies. The board at Phi Commerce has passed a special resolution to issue 69,840 Series B compulsory convertible shares at an issue price of Rs 6,120 each to raise Rs 42.74 crore or $5 million, reported Entrackr.
The Pune-based company is expected to use the funds for general corporate purposes.
Phi Commerce has raised $14 million to date, including a $10 million Series A1 round led by BEENEXT and Opus Technologies in November 2023. Currently, Opus Technologies holds 25.91% stake and BEENEXT owns 23.61% stake in the company.
During FY24, the company posted an operating revenue of Rs 81.7 crore, up from Rs 35.7 crore in FY23. And, the net loss stood at Rs 29 crore during FY24.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
Related News