About Changepay
Changepay is an Industrial Goods & Manufacturing company based in Tumakuru (India) founded in 2019 by Sanchit Garg and Dhyvik G J. Integrated local commerce solution for colleges. It operates in the Industrial Goods & Manufacturing and Transportation, Automotive & Logistics sectors. Changepay has raised $159.21 thousand across 3 funding rounds from investors including Axilor Ventures, Ravi Kumar H C and Harsha Medigeshi. Changepay was last valued at $1.43 million in May 2020. Its chief executive, as recorded, is Dhyvik G J. Its Indian entity Changepay Mms Technologies Private Limited reported revenue of ₹33.7 Lakh. Its focus areas include Consumer, Logistics Tech, Ecommerce Logistics and Access Point. Its competitors include QikPod, Podrones and Dropvault; 2 of its 3 listed competitors have raised funding.
Company details
Changepay was founded in 2019 in Tumakuru, India, as a provider of integrated local commerce solutions for college campuses. Services such as food ordering and item procurement are combined through a mobile application and IoT-enabled lockbox. Delivery activities are restricted to designated areas by hostel administrations, while loyalty-based discounts are extended to students. Operations focus on enhancing campus commerce efficiency in the education sector.
- Headquarters Tumakuru, India
- Founders Sanchit Garg, Dhyvik G J
- Stage Minicorn
- SectorsIndustrial Goods & ManufacturingTransportation, Automotive & Logistics
- Email••••••••
- Website changepay.co
- Legal Name Changepay Mms Technologies Private Limited
- Date of Incorporation 19 Jul, 2016
- Jurisdiction Tumkur, Karnataka, India
- Annual Revenue₹33.7 Lakh
FY 2025 · +14% YoY
- Net Loss-₹8.1 Lakh
FY 2025 · -24% margin
- EBITDA-₹2.3 Lakh
FY 2025 · -7% margin
- Total Equity Funding$159.21K (USD)
in 3 rounds
- Latest Funding Round$101.41K (USD), Angel Round
May 2020
- InvestorsAxilor Ventures
& 5 more
Associated legal entities of Changepay
Changepay operates through Changepay Mms 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 |
|---|---|---|---|---|---|---|---|
| Changepay Mms Technologies Private Limited CIN U72200KA2016PTC095130 | Active | 19 Jul 2016 | Tumkur, Karnataka | ₹0.3 Cr | 4 | View details |
Funding Insights of Changepay
Changepay has successfully raised a total of $159.21K across 3 strategic funding rounds. The most recent funding activity was a Angel Round of $101.41 thousand completed in May 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 $159,214
- Total Rounds 3
- Last Round Angel Round — $101,412
- First Round $43,198
(Jun 2019)
- Investors Count 6
All 3 funding rounds of Changepay 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 |
|---|---|---|---|---|---|
| May 2020 | $101,412 | Angel Round | $1.43M | Anup Pai | |
| Jan 2020 | $14,604 | Seed | $520,546 | Axilor Ventures | – |
| Jun 2019 | $43,198 | Angel Round | – | – |
| Date | Valuation | Stage |
|---|---|---|
| May 2020 | $1.43M | •••••••• |
Last known valuation $1.43M (May 2020). 6 investors in total: 1 institutional and 5 angel.
Investors in Changepay
Changepay has secured backing from 6 investors, including angel and venture fund investors. Prominent investors backing the company include Axilor Ventures, Ravi Kumar H C and Harsha Medigeshi.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm investing in early-stage startups in technology sectors. | 2014 | axilor.com | Bengaluru, India | |
RK Ravi Kumar H C | unknown_05e4be5272444a0c8 | |||
HM Harsha Medigeshi | unknown_a17e48600d4443f59 | |||
SB Sachidananda Bhat | unknown_527253e3ea784fa3a | |||
AP Anup Pai | Angel investor and entrepreneur, co-founder of Fintso, focused on fintech | unknown_4312d656c72641319 | ||
SJ Sahana Jayaprakash | unknown_6b6c872ad475450ea |
Investor details for Changepay
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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- Round participation
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Board of directors of Changepay Mms Technologies Private Limited (Changepay)
Changepay Mms Technologies Private Limited is the primary company behind Changepay. The board of Changepay Mms Technologies Private Limited currently have 4 directors; the longest-serving is Dhyvik Jayadevappa Gavatur, appointed in 2016. 5 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Dhyvik Jayadevappa Gavatur DIN 07553892 | Director | 19 Jul 2016 | 10 yrs 3 mo | Changepay Mms Technologies Private Limited |
| Jeevan Mahadevaiah DIN 07553914 | Director | 25 Sep 2020 | 6 yrs | Changepay Mms Technologies Private Limited |
| Chetan Jaydeep Ravada DIN 10702593 | Director | 18 Jul 2024 | 2 yrs 3 mo | Changepay Mms Technologies Private Limited |
| Ravichandan Rajaram Haldipur DIN 07509497 | Director | 06 Nov 2024 | 1 yr 11 mo | Changepay Mms Technologies Private Limited |
People of Changepay
2 people are tracked at Changepay (2 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder & CTO | Leadership | |
Dhyvik G J | Co-Founder & CEO | Leadership |
Complete people profiles for Changepay
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Verified entity values are shown only after access is granted.
Financials of Changepay
Figures of Changepay Mms Technologies Private Limited, the primary company behind Changepay, for FY 2025. Revenue was ₹33.7 Lakh (+14% year on year). Net loss was -₹8.1 Lakh (-24% margin). EBITDA was -₹2.3 Lakh (-7% margin). Revenue has grown at a compounded annual rate of +1399% over three years and +64% over five years.
- ₹33.7 LakhRevenue · FY 2025 · +14% YoY
- -₹8.1 LakhNet loss · -24% margin
- -₹2.3 LakhEBITDA · -7% margin
- ₹6.1 LakhPaid-up capital
- +1399%Revenue CAGR, 3 years
- +64%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Changepay Mms Technologies Private Limited are on its company page.
Detailed financial statements for Changepay
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
Verified entity values are shown only after access is granted.
Timeline of Changepay
4 dated milestones of Changepay across 1 years, from founding to its latest funding, stage changes and deals.
- Founded Changepay is founded.
- Funding First funding round of $43K.
- Funding Latest funding round, Angel Round, of $101K.
- Milestone Reaches Minicorn status.
Competitors of Changepay
Changepay has 3 listed competitors in our database, 2 of them funded. They include QikPod, Podrones and Dropvault.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| qikpod.com | 2015 | Bengaluru, India | $9M | 25 | Intelligent IoT locker networks are operated for e-commerce deliveries. | |
| podrones.com | 2017 | Pune, India | $106,530 | Electronic locker systems are developed for last-mile logistics delivery. | ||
| dropvaults.com | 2020 | Bengaluru, India | Delivers smart packaging solutions designed for e-commerce businesses. |
Detailed competitors of Changepay
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Related news about Changepay
Complete news archive for Changepay
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Frequently Asked Questions about Changepay
Changepay was founded in 2019.
Changepay is headquartered in Tumakuru, India. It is registered at Tumakuru, Karnataka, India.
Dhyvik G J is the CEO of Changepay, as recorded in our data. They have also founded this company.
Changepay is a funded company, having raised a total of $159.21K across 3 funding rounds to date. The company's 1st funding round was a Angel Round of $43.2K, raised on Jun 2019.
The primary company behind Changepay, Changepay Mms Technologies Private Limited, reported revenue of ₹33.7 Lakh for FY 2025, up 14% year on year.
Changepay was founded in 2019 in Tumakuru, India, as a provider of integrated local commerce solutions for college campuses. Services such as food ordering and item procurement are combined through a mobile application and IoT-enabled lockbox. Delivery activities are restricted to designated areas by hostel administrations, while loyalty-based discounts are extended to students. Operations focus on enhancing campus commerce efficiency in the education sector.
Changepay has 6 investors. Key investors include Axilor Ventures, Ravi Kumar H C, Harsha Medigeshi, Sachidananda Bhat, and Anup Pai.
The valuation of Changepay is $1.43M as of May 2020.
Changepay operates through Changepay Mms Technologies Private Limited.
The legal entities of Changepay currently have 4 directors, including Jeevan Mahadevaiah, Chetan Jaydeep Ravada, Ravichandan Rajaram Haldipur and others.