Bengaluru-based cross-border payments company PayGlocal is set to raise fresh funding at a valuation of $120 million, according to an Entrackr exclusive report, marking a substantial step-up for the fintech since its last disclosed round in 2022. The company had previously raised approximately $17 million across two rounds, most recently a Series B in mid-2022, backed by investors including Tiger Global, Peak XV Partners (formerly Sequoia Capital India) and BEENEXT.
Founded in 2021 by Prachi Dharani, Rohit Sukhija and Yogesh Lokhande — all former Visa professionals — PayGlocal has built a global payments platform focused on cross-border transactions for Indian exporters, e-commerce merchants and travel and education businesses. The company's orchestration engine routes international card transactions separately from domestic payments, aiming to improve acceptance rates and reduce payment risk for merchants collecting revenue from overseas customers. It holds authorisation from the Reserve Bank of India as an online payment aggregator and operates under PA-CB (cross-border) and PA-O licences, supporting more than 120 currencies across its gateway and multi-currency account products.
PayGlocal's product suite has expanded steadily over the past year. In October 2025, the company added Apple Pay support to its international gateway, enabling one-tap payments from more than 80 countries with tokenisation and biometric verification. It also holds an India patent for technology that optimises payment success rates in international card transactions — a rare instance of software-led payments innovation receiving intellectual property protection in the Indian fintech sector. The company's multi-currency account product allows businesses to collect payments in over 30 currencies across more than 180 countries, competing with players including Razorpay's cross-border offerings and global payment infrastructure providers.
The step-up to a $120 million valuation reflects growing investor appetite for infrastructure-layer fintech companies serving India's export and e-commerce sectors, at a time when Indian merchants and SaaS businesses are increasingly selling into global markets and need reliable, compliant rails for collecting international revenue. As India's IT and services exports continue to diversify beyond traditional outsourcing into software-as-a-service, digital content and e-commerce, cross-border payment infrastructure providers like PayGlocal are positioned at a structural growth intersection — one that has already produced several well-funded competitors, underscoring both the size of the opportunity and the intensifying competition to capture it.
