Dodo Funds, a pioneering international merchant-of-record platform catering to India and rising markets has raised $1.1 million in seed funding. The spherical was co-led by Antler and 9Unicorns, as per an official assertion.
The funding additionally noticed participation from Enterprise Catalysts and a number of other angel buyers, together with Nitin Gupta (Uni Playing cards, PayU), Maninder Gulati (former Oyo CSO, Lightspeed), Nishant Verman (former Flipkart CorpDev head), Raymond Russell (ex-chief of employees at Increase Supersonic), and Preethi Kasireddy (former a16z companion), amongst others.
Apoorva Ranjan Sharma, co-founder and president of Enterprise Catalysts, highlighted that Dodo Funds’ revolutionary cross-border fee options tackle a essential market want and have the potential to rework how companies in rising markets interact in international commerce.
The startup plans to make the most of the recent capital for product improvement, increasing native fee processing in over 30 new markets, and strengthening compliance and safety frameworks.
Rajesh Mane, companion 100unicorns, mentioned, “Their AI-driven strategy to fixing cross-border fee complexities, from dynamic foreign money conversion to regulatory navigation, completely enhances our imaginative and prescient of backing category-defining fintech infrastructure. We’re significantly impressed by their very good transaction success charge and fast service provider adoption, which reveals a powerful product-market slot in underserved areas.”
Based in 2023 by Rishabh Goel and Ayush Agarwal, Dodo Funds goals to beat key hurdles in worldwide transactions, together with low success charges, restricted entry to different fee strategies, cumbersome documentation, and insufficient vernacular help. The platform empowers companies to simply accept funds from greater than 150 nations, attaining success charges exceeding 90%.
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