India, July 16 -- Payment solutions provider Phi Commerce has secured INR 51.34 Cr ($5.9 Mn) as a part of its ongoing Series B funding round from existing investor BEENEXT.

As per Phi Commerce's MCA filings accessed by Inc42, the startup allotted 83,907 Series B compulsorily convertible preference shares at a premium of INR 6,109.7, aggregating to INR 51,34,84,770, to Bee Accelerate Fund 2 Pte Ltd, earlier this month.

Entrackr reported the development first.

Phi Commerce has declined to comment on the same.

Prior to the current investment, the company raised INR 42.73 Cr in the same round from DG Strategic Investment, in April this year, where it allotted 69,840 shares then.

Collectively, Phi Commerce has raised INR 94.07 Cr in Serie...