About ChitMonks
ChitMonks is a Financial Services company based in Hyderabad (India) founded in 2016 by Malla Reddy Chitti and Sridhar Reddy Uppula. Blockchain solutions for chit fund management are provided by ChitMonks. ChitMonks has raised $762.18 thousand across 3 funding rounds from investors including Unicorn India Ventures, Aditya Vuchi and Bharat Inclusion Initiative. ChitMonks was last valued at $2.04 million in July 2020. Its Indian entity Pangean Global Services Private Limited reported revenue of ₹3.65 Cr. Its focus areas include FinTech, Banking Tech, Loan Life Cycle Management and Suite. Its competitors include Chitcare and CuriousTech.
Company details
Provider of blockchain-based solutions for chit fund management. It offers a network connecting chit fund companies, regulators, subscribers, and banks. The platform facilitates secure and transparent transactions, improving efficiency and financial inclusion. Services include smart collection systems, insurance products tailored for chit subscriptions, and a reimagined approach to registered chit funds. The technology enhances trust and provides access to various financial services for subscribers.
- Headquarters Hyderabad, India
- Founders Malla Reddy Chitti, Sridhar Reddy Uppula
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website chitmonks.com
- Social LinkedIn X Facebook YouTube
- Legal Name Pangean Global Services Private Limited
- Date of Incorporation 01 Feb, 2016
- Jurisdiction Hyderabad, Telangana, India
- Annual Revenue₹3.65 Cr
FY 2024 · +152% YoY
- Net Loss-₹57.3 Lakh
FY 2024 · -16% margin
- EBITDA-₹55.5 Lakh
FY 2024 · -15% margin
- Total Equity Funding$762.18K (USD)
in 3 rounds
- Latest Funding Round$650K (USD), Seed
Jul 2020
- InvestorsUnicorn India Ventures
& 5 more
Associated legal entities of ChitMonks
ChitMonks operates through Pangean Global 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 |
|---|---|---|---|---|---|---|---|
| Pangean Global Services Private Limited CIN U74120TG2016PTC103015 | Active | 01 Feb 2016 | Hyderabad, Telangana | ₹3.6 Cr | 2 | View details |
Apps and channels of ChitMonks
its YouTube channel ChitMonks has 51 subscribers and 8 videos.
Videos from ChitMonks
The most watched videos on ChitMonks's YouTube channel, ChitMonks (51 subscribers). Click a video to play it here.
More on ChitMonks.
Funding Insights of ChitMonks
ChitMonks has successfully raised a total of $762.18K across 3 strategic funding rounds. The most recent funding activity was a Seed round of $650 thousand completed in July 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 $762,183
- Total Rounds 3
- Last Round Seed — $650,000
- First Round $112,183
(Feb 2017)
- Investors Count 6
All 3 funding rounds of ChitMonks 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 |
|---|---|---|---|---|---|
| Jul 2020 | $650,000 | Seed | $2.04M | Unicorn India Ventures | |
| Apr 2019 | Seed | – | Bharat Inclusion Initiative | – | |
| Feb 2017 | $112,183 | Angel Round | $1.05M | Kishore Kumar Ganji, Kishore Ganji |
| Date | Valuation | Stage |
|---|---|---|
| Jul 2020 | $2.04M | •••••••• |
| Feb 2017 | $1.05M | •••••••• |
Last known valuation $2.04M (Jul 2020). 6 investors in total: 2 institutional and 4 angel.
Investors in ChitMonks
ChitMonks has secured backing from 6 investors, including venture fund and angel investors. Prominent investors backing the company include Unicorn India Ventures, Aditya Vuchi and Bharat Inclusion Initiative.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm offering seed funding and support to startups in technology and innovation sectors. | 2014 | unicornivc.com | Mumbai, India | |
Startups across sectors are accelerated through targeted support initiatives. | bharatinclusion.ciie.co | Ahmedabad, India | ||
AV Aditya Vuchi | Founder of Dozee, healthtech innovator, active angel investor in Indian startups | unknown_5fc436e2dda047b89 | ||
KK Kishore Kumar Ganji | unknown_214c52e02972432a9 | |||
JK Jai Krishna Patel | unknown_7960b0225ad143aeb | |||
KG Kishore Ganji | Angel investor, entrepreneur, focused on tech startups, based in India and US. | unknown_4c28142dad5144228 |
Investor details for ChitMonks
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Verified entity values are shown only after access is granted.
Board of directors of Pangean Global Services Private Limited (ChitMonks)
Pangean Global Services Private Limited is the primary company behind ChitMonks. The board of Pangean Global Services Private Limited currently have 2 directors; the longest-serving is Pavan Adipuram, appointed in 2016. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Pavan Adipuram DIN 07403308 | Director | 01 Feb 2016 | 10 yrs 8 mo | Pangean Global Services Private Limited |
| Sridharreddy Uppula DIN 08266031 | Director | 15 Dec 2023 | 2 yrs 10 mo | Pangean Global Services Private Limited |
People of ChitMonks
2 people are tracked at ChitMonks (2 in leadership).
| Name | Role | Group |
|---|---|---|
Malla Reddy Chitti | Co-Founder | Leadership |
| Co-Founder | Leadership |
Complete people profiles for ChitMonks
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of ChitMonks
Figures of Pangean Global Services Private Limited, the primary company behind ChitMonks, for FY 2024. Revenue was ₹3.65 Cr (+152% year on year). Net loss was -₹57.3 Lakh (-16% margin). EBITDA was -₹55.5 Lakh (-15% margin). Revenue has grown at a compounded annual rate of +62% over three years and +85% over five years.
- ₹3.65 CrRevenue · FY 2024 · +152% YoY
- -₹57.3 LakhNet loss · -16% margin
- -₹55.5 LakhEBITDA · -15% margin
- ₹1.3 LakhPaid-up capital
- +62%Revenue CAGR, 3 years
- +85%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Pangean Global Services Private Limited are on its company page.
Detailed financial statements for ChitMonks
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 ChitMonks
4 dated milestones of ChitMonks across 4 years, from founding to its latest funding, stage changes and deals.
- Founded ChitMonks is founded.
- Funding First funding round of $112K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $650K.
Competitors of ChitMonks
ChitMonks has 2 listed competitors in our database. They include Chitcare and CuriousTech.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| chitcare.com | 2001 | Hyderabad, India | 21 | Delivers web-based management software for chit funds. | ||
| curioustech.io | 2020 | Chennai, India | Provides cloud-based software for managing chit funds securely. |
Detailed competitors of ChitMonks
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Verified entity values are shown only after access is granted.
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Related news about Chitmonks
Complete news archive for ChitMonks
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Frequently Asked Questions about ChitMonks
ChitMonks was founded in 2016 and raised its 1st funding round 1 year after it was founded.
ChitMonks is headquartered in Hyderabad, India. It is registered at Hyderabad, Telangana, India.
ChitMonks is a funded company, having raised a total of $762.18K across 3 funding rounds to date. The company's 1st funding round was a Angel Round of $112.18K, raised on Feb 2017.
The primary company behind ChitMonks, Pangean Global Services Private Limited, reported revenue of ₹3.65 Cr for FY 2024, up 152% year on year.
Provider of blockchain-based solutions for chit fund management. It offers a network connecting chit fund companies, regulators, subscribers, and banks. The platform facilitates secure and transparent transactions, improving efficiency and financial inclusion. Services include smart collection systems, insurance products tailored for chit subscriptions, and a reimagined approach to registered chit funds. The technology enhances trust and provides access to various financial services for subscribers.
ChitMonks's top competitors include CuriousTech and Chitcare.
ChitMonks has 6 investors. Key investors include Unicorn India Ventures, Aditya Vuchi, Bharat Inclusion Initiative, Kishore Kumar Ganji, and Jai Krishna Patel.
The valuation of ChitMonks is $2.04M as of Jul 2020.
ChitMonks operates through Pangean Global Services Private Limited.
The legal entities of ChitMonks currently have 2 directors, including Pavan Adipuram, Sridharreddy Uppula.