About Citrus Pay
Citrus Pay is a company based in Mumbai (India) founded in 2011 was acquired by PayU in September 2016.. Citrus Pay has raised $32.5 million across 3 funding rounds from investors including PayU, Peak XV Partners and Beenos. The company has 163 employees as of April 06, 2024. Citrus Pay operates in a competitive market with competitors including PhonePe, MobiKwik, Paytm, FreeCharge and MoneyGram, among others.
- Headquarter Mumbai, India
- Employees 163 as on 06 Apr, 2024
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Citrus Payment Solutions Private Limited
- Date of Incorporation 28 Apr, 2011
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$18.46 M (USD)34.25as on Mar 31, 2017
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Net Profit
$-14.49 M (USD)-36.14as on Mar 31, 2017
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EBITDA
$-15.74 M (USD)-70.77as on Mar 31, 2017
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Total Equity Funding
$32.5 M (USD)
in 3 rounds
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Latest Funding Round
$25 M (USD), Series C
Oct 19, 2015
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Investors
PayU
& 4 more
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Employee Count
163
as on Apr 06, 2024
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Acquired by
PayU
(Sep 14, 2016)
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Funding Insights of Citrus Pay
Citrus Pay has successfully raised a total of $32.5M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $25 million completed in October 2015. 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 Total Funding
- Total Rounds 3
- Last Round Series C — $25.0M
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First Round
First Round
(08 Jun 2012)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2015 | Amount | Series C - Citrus Pay | Valuation | Ascent Capital , Peak XV Partners | |
| Dec, 2013 | Amount | Series B - Citrus Pay | Valuation | Econtext Asia , Beenos | |
| Jun, 2012 | Amount | Series A - Citrus Pay | Valuation | Peak XV Partners |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Citrus Pay
Citrus Pay has secured backing from 5 investors, including venture fund and institutional investors. Prominent investors backing the company include PayU, Peak XV Partners and Beenos. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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AscentCapital is engaged in potato farming, grain marketing, and equipment services in Maine.
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Founded Year | Domain | Location | |
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Seed-stage tech-focused VC Firm funding companies in Asia, the Middle East and the US
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Founded Year | Domain | Location | |
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Venture capital firm investing in startups and providing support programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Citrus Pay
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Citrus Pay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Citrus Pay Comparisons
Competitors of Citrus Pay
Citrus Pay operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as PhonePe, MobiKwik, Paytm, FreeCharge and MoneyGram, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payment, financial, investment, and lending services are provided digitally.
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| domain | founded_year | HQ Location |
Operator of platform for online mobile, DTH recharge, and bill payments
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| domain | founded_year | HQ Location |
Digital payments, financial services, and e-commerce platforms are provided.
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| domain | founded_year | HQ Location |
Digital wallet services for bill payments and recharges are facilitated.
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| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
Wallet-based payment solutions are provided for consumers and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Citrus Pay
Frequently Asked Questions about Citrus Pay
When was Citrus Pay founded?
Citrus Pay was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Where is Citrus Pay located?
Citrus Pay is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is Citrus Pay a funded company?
Citrus Pay is a funded company, having raised a total of $32.5M across 3 funding rounds to date. The company's 1st funding round was a Series A of $2M, raised on Jun 08, 2012.
How many employees does Citrus Pay have?
As of Apr 06, 2024, the latest employee count at Citrus Pay is 163.
What is the annual revenue of Citrus Pay?
Annual revenue of Citrus Pay is $18.46M as on Mar 31, 2017.
What does Citrus Pay do?
Founded in 2011 in Mumbai, India, Citrus Pay operates in the fintech sector as a payment gateway. Online transactions are facilitated for businesses to accept payments, while consumers can handle mobile recharges, train tickets, and utility bills. Services include Citrus Cash for peer-to-peer transfers via a mobile wallet and Citrus Cube for offline bill planning and management.
Who are the top competitors of Citrus Pay?
Who are Citrus Pay's investors?
Citrus Pay has 5 investors. Key investors include PayU, Peak XV Partners, Beenos, Ascent Capital, and Econtext Asia.
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