About BuyForexOnline
BuyForexOnline was a Financial Services company based in Bengaluru (India) founded in 2012. It operates a digital platform for forex prepaid cards and purchases. It operates on a B2C model. BuyForexOnline has raised $25.23 million across 8 funding rounds from investors including Gautam Kumar, Ramachandra Kaundinya and Sathish G. The company has 2 employees. BuyForexOnline was last valued at $2.68 million in March 2020. Its Indian entity Electrum Financial Services Private Limited reported revenue of ₹18.1 Lakh. The company is recorded as dissolved. Its focus areas include Fintech, Currency Exchange and Prepaid Cards. Its competitors include BookMyForex, HiWi and RNFI Services; 2 of its 3 listed competitors have raised funding.
Company details
BuyForexOnline, backed by 25232442.0 from Gautam Kumar, Ramachandra Kaundinya, Sathish G, Raman Malpury, Meeta Gandhi, Aditya Agarwal, Vinatha M Reddy, Harshvardhan Agarwal, Janeshwar Teja, P Ramakrishna, Vinnakota Kaundinya Ramachandra, Kshama Venkataramaiah Kaushik, Swarnim, Ananth Reddy, Hari Shankar Agarwal, Sridhar Reddy Manthani, Chendana Jalagam, focuses on offering financial products and advice, fintech, currency exchange, and prepaid cards. Operates a digital platform for forex prepaid cards and purchases. Driving innovation, growth, and
- Headquarters Bengaluru, India
- Employees 2
- Stage Minicorn
- SectorsFinancial Services
- Website buyforexonline.com
- Social X Facebook
- Legal Name Electrum Financial Services Private Limited
- Date of Incorporation 10 Oct, 2012
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹18.1 Lakh
FY 2024 · -88% YoY
- Net Loss-₹31.6 Lakh
FY 2024 · -175% margin
- EBITDA-₹22.4 Lakh
FY 2024 · -124% margin
- Total Equity Funding$25.23M (USD)
in 8 rounds
- Latest Funding Round$123.52K (USD), Angel Round
Mar 2020
- Employee Count2
Associated legal entities of BuyForexOnline
BuyForexOnline operates through Electrum Financial Services 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 |
|---|---|---|---|---|---|---|---|
| Electrum Financial Services Private Limited CIN U67190KA2012PTC066238 | Active | 10 Oct 2012 | Bangalore, Karnataka | ₹0.2 Cr | 2 | 3 | View details |
Funding Insights of BuyForexOnline
BuyForexOnline has successfully raised a total of $25.23M across 8 strategic funding rounds. The most recent funding activity was a Angel Round of $123.52 thousand completed in March 2020. 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 $25.23M
- Total Rounds 8
- Last Round Angel Round — $123,515
- First Round $108,172
(Apr 2014)
- Investors Count 17
All 8 funding rounds of BuyForexOnline 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 |
|---|---|---|---|---|---|
| Mar 2020 | $123,515 | Angel Round | $2.68M | Gautam Kumar | |
| Mar 2019 | Seed | $2.81M | Aditya Agarwal | ||
| Mar 2018 | $230,440 | Seed | $••••• | Gautam Kumar | |
| Jan 2017 | $337,035 | Angel Round | $••••• | Aditya Agarwal | |
| Jun 2016 | $8.76M | Seed | – | Sathish G, Janeshwar Teja | |
| Apr 2015 | $15.59M | Seed | – | Vinnakota Kaundinya Ramachandra, Janeshwar Teja | |
| Feb 2015 | $75,740 | Angel Round | $••••• | Gautam Kumar | |
| Apr 2014 | $108,172 | Angel Round | $••••• | Sathish G, Gautam Kumar | – |
| Date | Valuation | Stage |
|---|---|---|
| Mar 2020 | $2.68M | •••••••• |
| Mar 2019 | $2.81M | •••••••• |
| Mar 2018 | $••••• | •••••••• |
| Jan 2017 | $••••• | •••••••• |
Full valuation and stage history of BuyForexOnline
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
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Verified entity values are shown only after access is granted.
Last known valuation $2.68M (Mar 2020). 17 investors in total: 1 institutional and 16 angel.
Investors in BuyForexOnline
BuyForexOnline has secured backing from 17 investors, including angel and venture fund investors. Prominent investors backing the company include Gautam Kumar, Ramachandra Kaundinya and Sathish G.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund focused on multiple sectors | swarnim.tcc.mode | |||
GK Gautam Kumar | Co-founder of FarEye, logistics tech innovator, active angel investor | unknown_10011a92f9464e319 | ||
RK Ramachandra Kaundinya | unknown_318f9c29547f4398b | |||
SG Sathish G | unknown_d2df750a62164fc68 | |||
RM Raman Malpury | unknown_c7f5c1ff781e4448b | |||
MG Meeta Gandhi | unknown_29bf6534183e4e4d8 | |||
AA Aditya Agarwal | Angel investor, ex-CTO of Dropbox, early Facebook employee, active in Indian startups | unknown_eb87c1a3832640efa | ||
VM Vinatha M Reddy | Co-founder of GOAT Brand Labs, active angel investor in Indian startups | unknown_11744d6d7ac540698 | ||
HA Harshvardhan Agarwal | Angel investor, entrepreneur, focused on tech startups in India. | unknown_189b4128952048ae9 | ||
JT Janeshwar Teja | unknown_bbf6bed4b333429f9 |
Investor details for BuyForexOnline
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Board of directors of Electrum Financial Services Private Limited (BuyForexOnline)
Electrum Financial Services Private Limited is the primary company behind BuyForexOnline. The board of Electrum Financial Services Private Limited currently have 3 directors; the longest-serving is Thamballapalle Nallappareddy Ananth Reddy, appointed in 2012. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Thamballapalle Nallappareddy Ananth Reddy DIN 06380687 | Director | 10 Oct 2012 | 14 yrs | Electrum Financial Services Private Limited |
| Vinatha Madhusudan Reddy DIN 01181691 | Director | 14 Feb 2015 | 11 yrs 8 mo | Electrum Financial Services Private Limited |
| Aditya Agarwal DIN 01566788 | Director | 30 Jan 2017 | 9 yrs 9 mo | Electrum Financial Services Private Limited |
People of BuyForexOnline
1 people are tracked at BuyForexOnline (1 in leadership); the tracked headcount is 2.
| Name | Role | Group |
|---|---|---|
Karthik Shanmugam | Head Operations | Leadership |
Complete people profiles for BuyForexOnline
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of BuyForexOnline
Figures of Electrum Financial Services Private Limited, the primary company behind BuyForexOnline, for FY 2024. Revenue was ₹18.1 Lakh (-88% year on year). Net loss was -₹31.6 Lakh (-175% margin). EBITDA was -₹22.4 Lakh (-124% margin). Revenue has grown at a compounded annual rate of -55% over three years and -38% over five years.
- ₹18.1 LakhRevenue · FY 2024 · -88% YoY
- -₹31.6 LakhNet loss · -175% margin
- -₹22.4 LakhEBITDA · -124% margin
- ₹1.08 CrPaid-up capital
- 2Employees (provident fund records)
- -55%Revenue CAGR, 3 years
- -38%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Electrum Financial Services Private Limited are on its company page.
Detailed financial statements for BuyForexOnline
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of BuyForexOnline
4 dated milestones of BuyForexOnline across 8 years, from founding to its latest funding, stage changes and deals.
- Founded BuyForexOnline is founded.
- Funding First funding round of $108K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Angel Round, of $124K.
Competitors of BuyForexOnline
BuyForexOnline has 3 listed competitors in our database, 2 of them funded. They include BookMyForex, HiWi and RNFI Services.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| bookmyforex.com | 2011 | Gurugram, India | $5.59M | 231 | Online foreign exchange and remittance services are facilitated in India. | |
| hiwipay.com | 2022 | Mumbai, India | $3.78M | 22 | Provider of payment solutions for international students | |
| rnfiservices.com | 2015 | Delhi, India | 1,385 | Digital payment services including gateways, remittances, and recharges are provided. |
Detailed competitors of BuyForexOnline
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Verified entity values are shown only after access is granted.
Web traffic of BuyForexOnline
Websites that share an audience with BuyForexOnline (buyforexonline.com).
Websites whose visitors overlap most with BuyForexOnline. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| buyforex.com | 100% | 17.7K | #1,283,795 | View details |
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Related news about Buyforexonline
Complete news archive for BuyForexOnline
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Frequently Asked Questions about BuyForexOnline
BuyForexOnline was founded in 2012 and raised its 1st funding round 2 years after it was founded.
BuyForexOnline is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
BuyForexOnline is a funded company, having raised a total of $25.23M across 8 funding rounds to date. The company's 1st funding round was a Angel Round of $108.17K, raised on Apr 2014.
BuyForexOnline has 2 employees.
The primary company behind BuyForexOnline, Electrum Financial Services Private Limited, reported revenue of ₹18.1 Lakh for FY 2024, down 88% year on year.
BuyForexOnline, backed by 25232442.0 from Gautam Kumar, Ramachandra Kaundinya, Sathish G, Raman Malpury, Meeta Gandhi, Aditya Agarwal, Vinatha M Reddy, Harshvardhan Agarwal, Janeshwar Teja, P Ramakrishna, Vinnakota Kaundinya Ramachandra, Kshama Venkataramaiah Kaushik, Swarnim, Ananth Reddy, Hari Shankar Agarwal, Sridhar Reddy Manthani, Chendana Jalagam, focuses on offering financial products and advice, fintech, currency exchange, and prepaid cards. Operates a digital platform for forex prepaid cards and purchases. Driving innovation, growth, and.
BuyForexOnline's top competitors include BookMyForex, RNFI Services and HiWi.
BuyForexOnline has 17 investors. Key investors include Gautam Kumar, Ramachandra Kaundinya, Sathish G, Raman Malpury, and Meeta Gandhi.
The valuation of BuyForexOnline is $2.68M as of Mar 2020.
BuyForexOnline operates through Electrum Financial Services Private Limited.
The legal entities of BuyForexOnline currently have 3 directors, including Aditya Agarwal, Thamballapalle Nallappareddy Ananth Reddy, Vinatha Madhusudan Reddy.