PayGlocal approves INR36.38 crore financing from BEENEXT
The cross-border payments company authorises a preference share issue to its existing investor.
PayGlocal's board has approved a preference share issue to raise INR36.38 crore from existing investor BEENEXT, Entrackr reported on August 7, citing regulatory filings.
The reported transaction authorises the issue of compulsorily convertible preference shares. The report describes the allotment as forthcoming, so the announcement establishes an approved financing rather than a statement that proceeds have already arrived.
PayGlocal provides payment acceptance and settlement infrastructure for Indian businesses serving customers abroad. The proposed financing follows its earlier Series B round; the approximately USD120 million figure discussed in the report is a valuation estimate.