About Cheq UPI
Cheq UPI is a Financial Services company based in Bengaluru (India) founded in 2021 by Manish Shukla and Sudhanshu Shekhar. Digital payment solutions are provided for foreign tourists in India. It operates on a FinTech model. Cheq UPI has raised $10.81 million across 3 funding rounds from investors including Angel List, 3one4 Capital and Venture Highway VC. The company has 1 employees. Its chief executive, as recorded, is Sudhanshu Shekhar. Its website chequpi.com draws about 20 thousand monthly visits. Its Indian entity Terrafin Solutions Private Limited reported revenue of ₹1.59 Cr. Cheq UPI offers products and services including Tourist Wallet. Its focus areas include FinTech and Digital Payments. Its competitors include Paytm, PhonePe and MobiKwik; 3 of its 3 listed competitors have raised funding.
Company details
Digital payment solutions are offered by Cheq UPI for foreign tourists and NRIs visiting India. The service operates through a UPI-powered INR wallet, enabling seamless transactions at over 55 million merchants across the country. Funds can be added using international debit or credit cards, and payments are facilitated both online and offline. The platform is designed to enhance travel convenience by reducing the need for cash and avoiding ATM withdrawal fees. Security measures, including data encryption and two-factor authentication, are implemented to protect users. The service targets citizens of G20 nations and non-resident Indians, focusing on the tourism and fintech sectors.
- Headquarters Bengaluru, India
- Employees 1
- Founders Manish Shukla, Sudhanshu Shekhar
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website chequpi.com
- Social LinkedIn X Instagram
- Legal Name Terrafin Solutions Private Limited
- Date of Incorporation 23 Jul, 2021
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹1.59 Cr
FY 2025 · -57% YoY
- Net Loss-₹18.1 Lakh
FY 2025 · -11% margin
- EBITDA-₹13.6 Lakh
FY 2025 · -9% margin
- Total Equity Funding$10.81M (USD)
in 3 rounds
- Latest Funding Round$500K (USD), Seed
Aug 2023
- InvestorsAngel List
& 6 more
- Employee Count1
Associated legal entities of Cheq UPI
Cheq UPI operates through Terrafin Solutions 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 |
|---|---|---|---|---|---|---|---|
| Terrafin Solutions Private Limited CIN U72200KA2021PTC149861 | Active | 23 Jul 2021 | Bangalore, Karnataka | ₹1.6 Cr | 6 | View details |
Products & Services of Cheq UPI
Cheq UPI offers a comprehensive portfolio of products and services, including Tourist Wallet.
Digital wallet for tourists to pay across India.
Apps and channels of Cheq UPI
Cheq UPI publishes 2 mobile apps with over 100K+ downloads.
Funding Insights of Cheq UPI
Cheq UPI has successfully raised a total of $10.81M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $500 thousand completed in August 2023. 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 $10.81M
- Total Rounds 3
- Last Round Seed — $500,000
- First Round $308,400
(Feb 2022)
- Investors Count 7
All 3 funding rounds of Cheq UPI 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 |
|---|---|---|---|---|---|
| Aug 2023 | $500,000 | Seed | – | Y Combinator | – |
| Jun 2022 | $10M | Seed | – | Venture Highway, 3one4 Capital | |
| Feb 2022 | $308,400 | Seed | – | Angel List | – |
7 investors in total: 7 institutional.
Investors in Cheq UPI
Cheq UPI has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Angel List, 3one4 Capital and Venture Highway VC.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage startups are accelerated via funding and educational programs. | ycombinator.com | Mountain View, United States | ||
Early-stage investments are made in fintech, retail, and healthtech sectors. | 2015 | venturehighway.vc | Delhi, India | |
Venture capital investments in technology sectors like SaaS and Fintech in India. | 2016 | 3one4capital.com | Bengaluru, India | |
Potato farming, grain marketing, and equipment services are conducted in Maine. | 2019 | multiplyventures.com | Bengaluru, India | |
Venture capital firm investing in and advising early-stage startups in India. | 2020 | marsshot.vc | Bengaluru, India | |
Venture capital investments are provided to early-stage startups across sectors. | shastra.vc | Bengaluru, India | ||
Alternative investment platform for startups and investors is operated. | 2010 | angellist.com | San Francisco, United States |
Investor details for Cheq UPI
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 Terrafin Solutions Private Limited (Cheq UPI)
Terrafin Solutions Private Limited is the primary company behind Cheq UPI. The board of Terrafin Solutions Private Limited currently have 6 directors; the longest-serving is Manish Kumar Shukla, appointed in 2021. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Manish Kumar Shukla DIN 09251102 | Director | 23 Jul 2021 | 5 yrs 3 mo | Terrafin Solutions Private Limited |
| Sudhanshu Shekhar DIN 09251223 | Director | 23 Jul 2021 | 5 yrs 3 mo | Terrafin Solutions Private Limited |
| Nagarjuna Malempati DIN 10551953 | Director | 04 Feb 2026 | 9 mo | Terrafin Solutions Private Limited |
| Raghu Vamsi Gonnabathula DIN 08573839 | Director | 04 Feb 2026 | 9 mo | Terrafin Solutions Private Limited |
| Sreeram Juluru DIN 07412532 | Director | 04 Feb 2026 | 9 mo | Terrafin Solutions Private Limited |
| Yakkaluru Guru Prashanth DIN 09532883 | Director | 04 Feb 2026 | 9 mo | Terrafin Solutions Private Limited |
People of Cheq UPI
2 people are tracked at Cheq UPI (2 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder & CEO | Leadership |
Complete people profiles for Cheq UPI
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Financials of Cheq UPI
Figures of Terrafin Solutions Private Limited, the primary company behind Cheq UPI, for FY 2025. Revenue was ₹1.59 Cr (-57% year on year). Net loss was -₹18.1 Lakh (-11% margin). EBITDA was -₹13.6 Lakh (-9% margin).
- ₹1.59 CrRevenue · FY 2025 · -57% YoY
- -₹18.1 LakhNet loss · -11% margin
- -₹13.6 LakhEBITDA · -9% margin
- ₹1 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Terrafin Solutions Private Limited are on its company page.
Detailed financial statements for Cheq UPI
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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Timeline of Cheq UPI
3 dated milestones of Cheq UPI across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Cheq UPI is founded.
- Funding First funding round of $308K.
- Funding Latest funding round, Seed, of $500K.
Competitors of Cheq UPI
Cheq UPI has 3 listed competitors in our database, 3 of them funded. They include Paytm, PhonePe and MobiKwik.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| paytm.com | 2000 | Noida, India | $2.81B | 14,760 | Digital payments, financial services, and e-commerce platforms are provided. | |
| phonepe.com | 2012 | Bengaluru, India | $1.71B | 1,768 | Payment, financial, investment, and lending services are provided digitally. | |
| mobikwik.com | 2009 | Gurugram, India | $283.54M | 698 | Operator of platform for online mobile, DTH recharge, and bill payments |
Detailed competitors of Cheq UPI
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Cheq UPI
The website of Cheq UPI (chequpi.com) receives about 20.2K visits a month.
- Monthly visits20.2K
▲ 61.3% vs previous month
Websites whose visitors overlap most with Cheq UPI. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| cheq.one | 100% | 27.4K | #1,164,222 | View details |
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Cheq UPI (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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Related news about Cheq Upi
Complete news archive for Cheq UPI
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Frequently Asked Questions about Cheq UPI
Cheq UPI was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Cheq UPI is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Sudhanshu Shekhar is the CEO of Cheq UPI, as recorded in our data. They have also founded this company.
Cheq UPI is a funded company, having raised a total of $10.81M across 3 funding rounds to date. The company's 1st funding round was a Seed of $308.4K, raised on Feb 2022.
Cheq UPI has 1 employees.
The primary company behind Cheq UPI, Terrafin Solutions Private Limited, reported revenue of ₹1.59 Cr for FY 2025, down 57% year on year.
Digital payment solutions are offered by Cheq UPI for foreign tourists and NRIs visiting India. The service operates through a UPI-powered INR wallet, enabling seamless transactions at over 55 million merchants across the country. Funds can be added using international debit or credit cards, and payments are facilitated both online and offline. The platform is designed to enhance travel convenience by reducing the need for cash and avoiding ATM withdrawal fees. Security measures, including data encryption and two-factor authentication, are implemented to protect users. The service targets citizens of G20 nations and non-resident Indians, focusing on the tourism and fintech sectors.
Cheq UPI offers Tourist Wallet.
Cheq UPI has 7 investors. Key investors include Angel List, 3one4 Capital, Venture Highway VC, Multiply Ventures, and Mars Shot Ventures.
Cheq UPI operates through Terrafin Solutions Private Limited.
The legal entities of Cheq UPI currently have 6 directors, including Manish Kumar Shukla, Sudhanshu Shekhar, Nagarjuna Malempati and others.