About Citrus Pay
Citrus Pay is a Financial Services company based in Mumbai (India) founded in 2011, and was acquired by PayU in September 2016. Online payment app for consumers and businesses. 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. Its Indian entity Citrus Payment Solutions Private Limited reported revenue of ₹118 Cr. Its focus areas include FinTech, Payments, Consumer Payments and Wallets. Its competitors include PhonePe, MobiKwik and Paytm; 3 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters Mumbai, India
- Employees 163
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website citruspay.com
- Social LinkedIn X Facebook
- Acquired by PayU (Sep 2016)
- Legal Name Citrus Payment Solutions Private Limited
- Date of Incorporation 28 Apr, 2011
- Jurisdiction Mumbai, Maharashtra, India
Associated legal entities of Citrus Pay
Citrus Pay operates through Citrus Payment Solutions Private Limited (amalgamated). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2017) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Citrus Payment Solutions Private Limited CIN U74900MH2011PTC216800 | Amalgamated | 28 Apr 2011 | Mumbai, Maharashtra | ₹118 Cr | 163 | 3 | View details |
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 $32.5M
- Total Rounds 3
- Last Round Series C — $25M
- First Round $2M
(Jun 2012)
- Investors Count 4
All 3 funding rounds of Citrus Pay 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 |
|---|---|---|---|---|---|
| Oct 2015 | $25M | Series C | – | Ascent Capital, Peak XV Partners | |
| Dec 2013 | $5.5M | Series B | – | Econtext Asia, Beenos | |
| Jun 2012 | $2M | Series A | – | Peak XV Partners | – |
5 investors in total: 5 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
AscentCapital is engaged in potato farming, grain marketing, and equipment services in Maine. | 2000 | ascentcapital.in | Bengaluru, India | |
Seed-stage tech-focused VC Firm funding companies in Asia, the Middle East and the US | 1999 | beenos.com | Tokyo, Japan | |
Venture capital firm investing in startups and providing support programs. | 2000 | peakxv.com | Bengaluru, India | |
Cash payment settlement and online acquiring solutions are provided. | 2012 | econtext.asia | Hong Kong, China | |
Online payment processing and credit solutions are provided for businesses. | 2002 | payu.com | Amsterdam, Netherlands |
Investor details for Citrus Pay
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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Board of directors of Citrus Payment Solutions Private Limited (Citrus Pay)
Citrus Payment Solutions Private Limited is the primary company behind Citrus Pay. The board of Citrus Payment Solutions Private Limited currently have 3 directors; the longest-serving is Jitendra Gupta, appointed in 2011. 7 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Jitendra Gupta DIN 03341028 | Director | 28 Apr 2011 | 15 yrs 6 mo | Citrus Payment Solutions Private Limited |
| Bairavarasu Amrish Rau DIN 02008811 | Director | 08 Jul 2014 | 12 yrs 4 mo | Citrus Payment Solutions Private Limited |
| Maneesh Goel DIN 07636513 | Director | 29 May 2017 | 9 yrs 5 mo | Citrus Payment Solutions Private Limited |
Financials of Citrus Pay
Figures of Citrus Payment Solutions Private Limited, the primary company behind Citrus Pay, for FY 2017. Revenue was ₹118 Cr (+34% year on year). Net loss was -₹92.57 Cr (-79% margin). EBITDA was -₹90.27 Cr (-77% margin). Revenue has grown at a compounded annual rate of +116% over three years.
- ₹118 CrRevenue · FY 2017 · +34% YoY
- -₹92.57 CrNet loss · -79% margin
- -₹90.27 CrEBITDA · -77% margin
- ₹1.70 CrPaid-up capital
- 163Employees (provident fund records)
- +116%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Citrus Payment Solutions Private Limited are on its company page.
Detailed financial statements for Citrus Pay
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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- Downloads
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Timeline of Citrus Pay
4 dated milestones of Citrus Pay across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Citrus Pay is founded.
- Funding First funding round of $2.0M.
- Funding Latest funding round, Series C, of $25.0M.
- Exit Acquired by PayU.
Competitors of Citrus Pay
Citrus Pay has 3 listed competitors in our database, 3 of them funded. They include PhonePe, MobiKwik and Paytm.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| 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 | |
| paytm.com | 2000 | Noida, India | $2.81B | 14,760 | Digital payments, financial services, and e-commerce platforms are provided. |
Detailed competitors of Citrus Pay
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- Full competitor set
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Web traffic of Citrus Pay
The website of Citrus Pay (citruspay.com) receives about 3.9K visits a month.
- Monthly visits3.9K
▼ 58.5% vs previous month
Websites whose visitors overlap most with Citrus Pay. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| payu.in | 100% | #1,913 | View details | ||
my.sundirect.in | my.sundirect.in | 96% | – | ||
| payzippy.com | 95% | 5.6K | View details | ||
| transecute.com | 91% | View details | |||
| yourstory.com | 77% | 1.5M | #54,410 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 15 similar websites and full traffic analytics for Citrus Pay
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- 15 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
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Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Citrus Pay (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 Citrus Pay
Complete news archive for Citrus Pay
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Frequently Asked Questions about Citrus Pay
Citrus Pay was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Citrus Pay is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
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 2012.
Citrus Pay has 163 employees.
The primary company behind Citrus Pay, Citrus Payment Solutions Private Limited, reported revenue of ₹118 Cr for FY 2017, up 34% year on year.
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.
Citrus Pay has 5 investors. Key investors include PayU, Peak XV Partners, Beenos, Ascent Capital, and Econtext Asia.
Citrus Pay operates through Citrus Payment Solutions Private Limited.
Yes. Citrus Pay was acquired by PayU in September 2016.
The legal entities of Citrus Pay currently have 3 directors, including Maneesh Goel, Jitendra Gupta, Bairavarasu Amrish Rau.