PayGlocal returns for $3.84M raise at $120M valuation

PayGlocal Technologies, a Bengaluru-based cross-border payments startup, is set to raise 363.8 million INR ($3.84 million) in a late-stage round from existing investor BEENEXT. It marks the company's first funding round in over four years.

The company's board approved issuing 5,074 compulsory convertible preference shares at 71,693.02 INR each. The round values PayGlocal at $120 million, up 31.8% from its previous valuation of 865 crore INR.

Founded in 2021 by Prachi Dharani , Rohit Sukhija and Yogesh Lokhande , PayGlocal runs RBI-authorised infrastructure that lets Indian businesses receive international payments. It sells payment gateways, multi-currency collections, export documentation, fraud prevention and settlement services to exporters, SaaS firms, D2C brands and freelancers.

BEENEXT first backed PayGlocal in its $12 million Series B, alongside lead investor Tiger Global and Peak XV Partners. To date, the company has raised roughly $17 million.

In FY25, operating revenue more than doubled to 25.11 crore INR from 12.20 crore INR a year earlier. Losses narrowed to 14 crore INR from 15.31 crore INR. PayGlocal has yet to file its FY26 accounts.

A returning backer writing a fresh cheque after a four-year gap, and at a higher valuation, points to renewed investor confidence in India's cross-border payments infrastructure. Peak XV Partners remains the largest external shareholder at 34.04%.