This transfer comes amid rising competitors in India’s fintech sector.
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REUTERS
Shopper fee platform POP has raised $30 million from Razorpay, marking the latter’s entry into the buyer UPI section. The funds shall be used to strengthen POP’s product innovation, improve the worth proposition for shoppers through POPcoins-led rewards, and speed up deeper service provider partnerships throughout D2C and life-style classes. POPcoins are the corporate’s core providing that are brand-funded rewards forex.
The beginning-up launched its UPI platform in 2024 and has crossed six lakh every day UPI transactions. It has additionally recorded a million distinctive month-to-month lively transactors, fulfilled over two lakh month-to-month commerce shipments, and issued over 40,000 RuPay bank cards in its co-branded partnership with Sure Financial institution.
“India doesn’t want one other cashback-only rewards app. What we’d like is a brand new rewards financial system constructed on a long-term goal. POPcoins are designed to construct habits, enhance retention, and scale back CAC for retailers – all whereas making funds extra rewarding for the tip consumer. With Razorpay’s assist, we are going to double down on our mission to deliver a loyalty-first funds ecosystem that may assist companies scale with goal, pace, and influence,” Bhargav Errangi, Founding father of POP.
Harshil Mathur, Co-founder and CEO of Razorpay, stated, “Our funding in POP is pushed by a transparent goal and that’s to serve D2C retailers higher. In at this time’s crowded D2C house, manufacturers want extra than simply fee options; they want instruments to earn belief, drive repeat purchases, and construct actual loyalty. POP bridges that hole by combining on the spot rewards, seamless funds, and model discovery in a single platform. It’s a strong means for companies to show on a regular basis transactions into lasting buyer relationships.”
Fintech sector
Earlier POP had raised funding from marquee traders equivalent to India Quotient, Unilever Ventures, Incubate Fund, and Nuventures.
This transfer comes amid rising competitors in India’s fintech sector. Simply final month, Scapia raised $40 million in collection B led by Peak XV.
In line with NPCI information, PhonePe and Google Pay stay the 2 most used platforms within the nation. POP ranks because the twenty first largest UPI participant having processed 13.59 million transactions price over Rs 500 crore as of Might 2025.
(With inputs from bl intern Nethra Sailesh)
Revealed on June 17, 2025
