Dodo Payments, a pioneering global merchant-of-record platform catering to India and emerging markets has raised $1.1 million in seed funding. The round was co-led by Antler and 9Unicorns, as per an official statement.
The funding also saw participation from Venture Catalysts and several angel investors, including Nitin Gupta (Uni Cards, PayU), Maninder Gulati (former Oyo CSO, Lightspeed), Nishant Verman (former Flipkart CorpDev head), Raymond Russell (ex-chief of staff at Boom Supersonic), and Preethi Kasireddy (former a16z partner), among others.
Apoorva Ranjan Sharma, co-founder and president of Venture Catalysts, highlighted that Dodo Payments’ innovative cross-border payment solutions address a critical market need and have the potential to transform how businesses in emerging markets engage in global trade.
The startup plans to utilize the fresh capital for product development, expanding local payment processing in over 30 new markets, and strengthening compliance and security frameworks.
Rajesh Mane, partner 100unicorns, said, “Their AI-driven approach to solving cross-border payment complexities, from dynamic currency conversion to regulatory navigation, perfectly complements our vision of backing category-defining fintech infrastructure. We are particularly impressed by their superb transaction success rate and rapid merchant adoption, which shows a strong product-market fit in underserved regions.”
Founded in 2023 by Rishabh Goel and Ayush Agarwal, Dodo Payments aims to overcome key hurdles in international transactions, including low success rates, limited access to alternative payment methods, cumbersome documentation, and inadequate vernacular support. The platform empowers businesses to accept payments from more than 150 countries, achieving success rates exceeding 90%.
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