About Appnit Technologies
Appnit Technologies is a Financial Services company based in Noida (India) founded in 2014 by Manohar Lal VIj and Nitin Kapoor, and was acquired by DMI Finance in March 2022. Online and mobile payment gateways are provided for businesses. Appnit Technologies has raised $3.6 million across 4 funding rounds from investors including DMI Finance, Capital Trade Link and GMobi. The company has 34 employees. Appnit Technologies was last valued at $9.08 million in February 2021. Its Indian entity Appnit Technologies Private Limited reported revenue of ₹78.75 Cr. Its focus areas include FinTech, Payments, Business Payments and Online Payments. Its competitors include Razorpay, Mintoak and Pine Labs; 3 of its 3 listed competitors have raised funding.
Company details
Appnit Technologies was founded in 2014 in Noida, India, focusing on the fintech sector. Payment gateway solutions, including Plutus for online transactions and M-Plutus for mobile payments, are offered to support various options for e-commerce. Secure encrypted data transmission is ensured, with the mobile app compatible across iOS, Android, Blackberry, and Microsoft platforms. Data analysis services are also provided to merchants for operational insights.
- Headquarters Noida, India
- Employees 34
- Founders Manohar Lal VIj, Nitin Kapoor
- Stage Acquired
- SectorsFinancial Services
- Website appnittech.com
- Social LinkedIn
- Acquired by DMI Finance (Mar 2022)
- Legal Name Appnit Technologies Private Limited
- Date of Incorporation 11 Mar, 2014
- Jurisdiction Noida, Uttar Pradesh, India
- Annual Revenue₹78.75 Cr
FY 2025 · +296% YoY
- Net Loss-₹2.39 Cr
FY 2025 · -3% margin
- EBITDA-₹4.62 Cr
FY 2025 · -6% margin
- Total Equity Funding$3.6M (USD)
in 4 rounds
- Latest Funding Round$3.1M (USD), Series A
Feb 2021
- InvestorsDMI Finance
& 17 more
- Employee Count34
- Acquired byDMI Finance
(Mar 2022)
Associated legal entities of Appnit Technologies
Appnit Technologies operates through Appnit Technologies Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Appnit Technologies Private Limited CIN U72900UP2014PTC063266 | Active | 11 Mar 2014 | Noida, Uttar Pradesh | ₹78.7 Cr | 34 | 7 | View details |
Funding Insights of Appnit Technologies
Appnit Technologies has successfully raised a total of $3.6M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $3.1 million completed in February 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $3.6M
- Total Rounds 4
- Last Round Series A — $3.1M
- First Round $51,999
(Oct 2015)
- Investors Count 17
All 4 funding rounds of Appnit Technologies with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2021 | $3.1M | Series A | $9.08M | Pine View Portfolio Consultants, COVET FINANCIAL SERVICES | |
| Oct 2018 | $422,094 | Series A | $1.26M | GMobi | – |
| Mar 2016 | $23,219 | Angel Round | $••••• | Shobhit Tondon, Ritika Sardana | |
| Oct 2015 | $51,999 | Angel Round | $••••• | Amit Kumar Dey |
| Date | Valuation | Stage |
|---|---|---|
| Feb 2021 | $9.08M | •••••••• |
| Oct 2018 | $1.26M | •••••••• |
| Mar 2016 | $••••• | •••••••• |
Full valuation and stage history of Appnit Technologies
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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Last known valuation $9.08M (Feb 2021). 18 investors in total: 12 institutional and 6 angel.
Investors in Appnit Technologies
Appnit Technologies has secured backing from 18 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include DMI Finance, Capital Trade Link and GMobi.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity investments are managed across multiple sectors. | Delhi, India | |||
Private equity investments are managed across multiple sectors. | Delhi, India | |||
Multiple sectors are invested in by the private equity firm. | Delhi, India | |||
Private equity firm focused on multiple sectors | Delhi, India | |||
Private equity investments are directed toward multiple sectors. | Ghaziabad, India | |||
| vkccorp.co.in | ||||
Delivers market research services, including data collection, analysis, and professional reporting. | 1994 | ifocusmts.in | Noida, India | |
SME and personal loans are provided to clients. | 1984 | capitaltrade.in | Noida, India | |
Performance-based mobile ad platform and internet services are provided. | 2011 | generalmobi.com | Taipei, Taiwan |
Investor details for Appnit Technologies
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Board of directors of Appnit Technologies Private Limited (Appnit Technologies)
Appnit Technologies Private Limited is the primary company behind Appnit Technologies. The board of Appnit Technologies Private Limited currently have 6 directors; the longest-serving is Nitin Kapoor, appointed in 2014. 17 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Nitin Kapoor DIN 06810902 | Director | 11 Mar 2014 | 12 yrs 8 mo | Appnit Technologies Private Limited |
| Amit Kumar Dey DIN 02718352 | Director | 20 Aug 2015 | 11 yrs 2 mo | Appnit Technologies Private Limited |
| Rashmi Fauzdar DIN 07599221 | Director | 11 Nov 2019 | 7 yrs | Appnit Technologies Private Limited |
| Shivi Mohan Rastogi DIN 01619307 | Director | 10 Mar 2022 | 4 yrs 8 mo | Appnit Technologies Private Limited |
| Jatinder Pal Singh Bhasin DIN 02181225 | Director | 10 Mar 2022 | 4 yrs 8 mo | Appnit Technologies Private Limited |
| Arindam Ahindra Das DIN 02704225 | Director | 25 Mar 2022 | 4 yrs 7 mo | Appnit Technologies Private Limited |
People of Appnit Technologies
2 people are tracked at Appnit Technologies (2 in leadership); the tracked headcount is 34.
| Name | Role | Group |
|---|---|---|
Manohar Lal VIj | Co-Founder | Leadership |
| Co-Founder | Leadership |
Complete people profiles for Appnit Technologies
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Financials of Appnit Technologies
Figures of Appnit Technologies Private Limited, the primary company behind Appnit Technologies, for FY 2025. Revenue was ₹78.75 Cr (+296% year on year). Net loss was -₹2.39 Cr (-3% margin). EBITDA was -₹4.62 Cr (-6% margin). Revenue has grown at a compounded annual rate of +156% over three years and +61% over five years.
- ₹78.75 CrRevenue · FY 2025 · +296% YoY
- -₹2.39 CrNet loss · -3% margin
- -₹4.62 CrEBITDA · -6% margin
- ₹13.20 CrPaid-up capital
- 34Employees (provident fund records)
- +156%Revenue CAGR, 3 years
- +61%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Appnit Technologies Private Limited are on its company page.
Detailed financial statements for Appnit Technologies
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Appnit Technologies
5 dated milestones of Appnit Technologies across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Appnit Technologies is founded.
- Funding First funding round of $52K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series A, of $3.1M.
- Exit Acquired by DMI Finance.
Competitors of Appnit Technologies
Appnit Technologies has 3 listed competitors in our database, 3 of them funded. They include Razorpay, Mintoak and Pine Labs.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| razorpay.com | 2014 | Bengaluru, India | $741.62M | 2,641 | Payment and business banking solutions are provided for enterprises. | |
| mintoak.com | 2017 | Mumbai, India | $24.71M | 140 | Digital payments and engagement solutions are offered for MSMEs. | |
| pinelabs.com | 1998 | Noida, India | $1.23B | 3,780 | Omnichannel payment solutions, loyalty programs, and business tools are provided. |
Detailed competitors of Appnit Technologies
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Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Appnit Technologies (Payments & Remittance Platforms) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 2.81 B | USD 1.05 B | 39,368 | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | USD 950.07 M | 12,265 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 741.62 M | USD 302.19 M | 2,850 |
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Frequently Asked Questions about Appnit Technologies
Appnit Technologies was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Appnit Technologies is headquartered in Noida, India. It is registered at Noida, Uttar Pradesh, India.
Appnit Technologies is a funded company, having raised a total of $3.6M across 4 funding rounds to date. The company's 1st funding round was a Angel Round of $52K, raised on Oct 2015.
Appnit Technologies has 34 employees.
The primary company behind Appnit Technologies, Appnit Technologies Private Limited, reported revenue of ₹78.75 Cr for FY 2025, up 296% year on year.
Appnit Technologies was founded in 2014 in Noida, India, focusing on the fintech sector. Payment gateway solutions, including Plutus for online transactions and M-Plutus for mobile payments, are offered to support various options for e-commerce. Secure encrypted data transmission is ensured, with the mobile app compatible across iOS, Android, Blackberry, and Microsoft platforms. Data analysis services are also provided to merchants for operational insights.
Appnit Technologies has 18 investors. Key investors include DMI Finance, Capital Trade Link, GMobi, I-focus Multitech Solutions, and Pine View Portfolio Consultants.
The valuation of Appnit Technologies is $9.08M as of Feb 2021.
Appnit Technologies operates through Appnit Technologies Private Limited.
Yes. Appnit Technologies was acquired by DMI Finance in March 2022.
The legal entities of Appnit Technologies currently have 7 directors, including Shivi Mohan Rastogi, Jatinder Pal Singh Bhasin, Amit Kumar Dey and others.