About 7 Ring
7 Ring is a Financial Services company based in Mumbai (India) founded in 2017. A wearable payment solution is offered by 7 Ring. It operates on a Direct-to-Consumer (D2C) and FinTech model. Its Indian entity Sevenring Innovations Private Limited reported revenue of ₹60.8 Lakh. 7 Ring offers products and services including 7 Ring. Its focus areas include Technology, FinTech and Payment Solutions.
Company details
Indias first contactless payment ring is provided by 7 Ring, a fintech startup. Wearable smart rings for POS and metro payments are developed, powered by UPI and NFC technology. Solutions focus on secure, convenient transactions without the need for apps, OTPs, or PINs for small payments. The sector targeted includes financial technology with an emphasis on innovative payment methods.
- Headquarters Mumbai, India
- SectorsFinancial Services
- Social LinkedIn X Instagram
- Legal Name Sevenring Innovations Pvt Ltd
- Date of Incorporation 23 Apr, 2018
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹60.8 Lakh
FY 2024 · +12554% YoY
- Net Loss-₹34.6 Lakh
FY 2024 · -57% margin
- EBITDA-₹32.7 Lakh
FY 2024 · -54% margin
Associated legal entities of 7 Ring
7 Ring operates through Sevenring Innovations Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Sevenring Innovations Private Limited CIN U74999MH2018PTC308445 | Active | 23 Apr 2018 | Mumbai, Maharashtra | ₹0.6 Cr | 2 | View details |
Products & Services of 7 Ring
7 Ring offers a comprehensive portfolio of products and services, including 7 Ring.
A contactless payment ring using NFC technology.
Board of directors of Sevenring Innovations Private Limited (7 Ring)
Sevenring Innovations Private Limited is the primary company behind 7 Ring. The board of Sevenring Innovations Private Limited currently have 2 directors; the longest-serving is Vijay Vasudeo Khubchandani, appointed in 2018.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vijay Vasudeo Khubchandani DIN 02601836 | Director | 23 Apr 2018 | 8 yrs 6 mo | Sevenring Innovations Private Limited |
| Tanesha Vijay Khubchandani DIN 08117750 | Director | 23 Apr 2018 | 8 yrs 6 mo | Sevenring Innovations Private Limited |
Financials of 7 Ring
Figures of Sevenring Innovations Private Limited, the primary company behind 7 Ring, for FY 2024. Revenue was ₹60.8 Lakh (+12554% year on year). Net loss was -₹34.6 Lakh (-57% margin). EBITDA was -₹32.7 Lakh (-54% margin). Revenue has grown at a compounded annual rate of +170% over three years and +114% over five years.
- ₹60.8 LakhRevenue · FY 2024 · +12554% YoY
- -₹34.6 LakhNet loss · -57% margin
- -₹32.7 LakhEBITDA · -54% margin
- ₹12,640Paid-up capital
- +170%Revenue CAGR, 3 years
- +114%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Sevenring Innovations Private Limited are on its company page.
Detailed financial statements for 7 Ring
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Top companies in Travel Fintech
3 companies that operate in the same segment as 7 Ring (Travel Fintech) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payment services via UPI, cards, and wallets. | 2019 | Bengaluru, Karnataka, India | USD 8.79 | 74 | ||
Provides an app-based platform for group expense sharing and bill splitting. | 2015 | Bengaluru, Karnataka, India | USD 2.47 M | 177 | ||
Offers agent-based solutions for secure payment processing. | 2015 | Ludhiana, Punjab, India |
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Related news about 7 Ring
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Frequently Asked Questions about 7 Ring
7 Ring was founded in 2017.
7 Ring is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
The primary company behind 7 Ring, Sevenring Innovations Private Limited, reported revenue of ₹60.8 Lakh for FY 2024, up 12554% year on year.
Indias first contactless payment ring is provided by 7 Ring, a fintech startup. Wearable smart rings for POS and metro payments are developed, powered by UPI and NFC technology. Solutions focus on secure, convenient transactions without the need for apps, OTPs, or PINs for small payments. The sector targeted includes financial technology with an emphasis on innovative payment methods.
7 Ring offers 7 Ring.
7 Ring operates through Sevenring Innovations Private Limited.
The legal entities of 7 Ring currently have 2 directors, including Vijay Vasudeo Khubchandani, Tanesha Vijay Khubchandani.