PhiCommerce raises $10 mn in funding led by Singapore-based BEENEXT

PhiCommerce, a payment solutions provider, has raised $10 million (Rs 83 crore) as part of its Series A1 funding led by BEENEXT, a Singapore-based Venture capital firm, and attended by Opus Ventures.

PhiCommerce will use the funding to expand its international business and develop payment solutions. The company provides end-to-end payments solutions to businesses, banks and networks. It helps them in delivering a secure, scalable and frictionless payment experience to all stakeholders.

“We plan to utilise these funds over the next phase of our growth to rollout multiple new products,” said Jose Thattil, chief executive officer (CEO) and co-founder of PhiCommerce.