The new capital will accelerate Paytring’s product development to bring efficient international payments to Indian businesses, a market estimated to reach $814 billion by 2029.
An all-inclusive payment orchestration platform, Paytring’s no-code solution approach for payment collection simplifies the complex landscape of local and international digital transactions. The new investment will enable merchants and payment processors to enhance their operational efficiency, reduce costs, and improve the overall payment experience for end-users. Paytring is already integrated with more than 25 payment gateways and service providers worldwide, with this number set to continue rising over the coming months.
“Unlimit’s strategic investment at such an early stage shows the importance of Paytring’s solution for the expansion of business around the world. The payment leaders’ deep tech expertise and multi-geography insights will help fast-track our development. Together, we’re excited to achieve our strategic mission of empowering businesses to stay ahead of the global payments ecosystem’s evolving dynamics,” says Keshav Munjal, co-founder and CEO of Paytring.
Kirill Eves, founder and CEO of Unlimit, said: “Paytring has the remarkable potential to revolutionise the cross-border payment landscape in India. The company has already showcased an impressive track record of growth through a series of strategic partnerships and integrations. We are excited to work together with the company’s leaders to accelerate its growth trajectory even further in the years to come”.
The investment comes at a timely moment for the Indian digital payment landscape. India’s total transaction value in the digital payments market is predicted to show an annual growth rate of 11.56% (CAGR 2024-2028), with the Indian market projected to reach 254.60 billion US dollars in 2024. At the World Trade Organization (WTO) earlier this month India proposed a work programme as part of the country’s ongoing goal to achieve cheaper, faster and more transparent cross-border payments. The programme aims to reduce the cost of cross-border remittances to promote international trade.
