About Decipay
Decipay is a Financial Services company based in Mumbai (India) founded in 2019. UPI payment acceptance solutions are provided for merchants by Decipay. Decipay has raised $53.08 thousand across 2 funding rounds from investors including BlocPal, Icebreaker Tech and Kamal Mehta. Decipay was last valued at $51.77 thousand in July 2021. Its Indian entity Decipay Services Private Limited reported revenue of ₹11.8 Lakh. Its focus areas include FinTech, Payments, Business Payments and POS Payments.
Company details
Decipay was founded in 2019 in Mumbai, India, as a fintech company focused on payment processing. UPI-based solutions are offered to merchants for accepting payments across multiple channels, including configured devices. Cross-border transactions are facilitated to streamline operations for merchants and consumers. The domain decipay.in supports these services in the financial technology sector.
- Headquarters Mumbai, India
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website decipay.in
- Social LinkedIn X Facebook
- Legal Name Decipay Services Private Limited
- Date of Incorporation 13 Jun, 2019
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹11.8 Lakh
FY 2023 · +2506% YoY
- Net Loss-₹4.4 Lakh
FY 2023 · -37% margin
- EBITDA-₹3.7 Lakh
FY 2023 · -32% margin
- Total Equity Funding$53.08K (USD)
in 2 rounds
- Latest Funding Round$19.91K (USD), Seed
Jul 2021
- InvestorsBlocPal
& 4 more
Associated legal entities of Decipay
Decipay operates through Decipay Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Decipay Services Private Limited CIN U72200MH2019PTC326728 | Active | 13 Jun 2019 | Mumbai, Maharashtra | ₹0.1 Cr | 2 | View details |
Funding Insights of Decipay
Decipay has successfully raised a total of $53.08K across 2 strategic funding rounds. The most recent funding activity was a Seed round of $19.91 thousand completed in July 2021. 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 $53,082
- Total Rounds 2
- Last Round Seed — $19,906
- First Round $33,176
(Jul 2020)
- Investors Count 5
All 2 funding rounds of Decipay 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 2021 | $19,906 | Seed | $51,771 | BlocPal | – |
| Jul 2020 | $33,176 | Seed | $474,007 | Icebreaker Tech |
Last known valuation $51,771 (Jul 2021). 5 investors in total: 2 institutional and 3 angel.
Investors in Decipay
Decipay has secured backing from 5 investors, including venture fund and angel investors. Prominent investors backing the company include BlocPal, Icebreaker Tech and Kamal Mehta.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage tech companies are invested in by Icebreaker Tech. | icebreakertech.tcc.mode | Mumbai, India | ||
KM Kamal Mehta | unknown_4eb89043426346869 | |||
SJ Sharad Joshi | unknown_55b6d8ab11c948bbb | |||
AC Atul Chandrashekhar Joshi | unknown_beaba1c330fc48cda | |||
Blockchain-based financial transaction platform | 2017 | blocpal.com | Vancouver, Canada |
Investor details for Decipay
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Decipay Services Private Limited (Decipay)
Decipay Services Private Limited is the primary company behind Decipay. The board of Decipay Services Private Limited currently have 2 directors; the longest-serving is Smita Dhiraj Lokhande, appointed in 2023. 5 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Smita Dhiraj Lokhande DIN 08111870 | Director | 24 Jun 2023 | 3 yrs 4 mo | Decipay Services Private Limited |
| Javed Sayyed Gadkari DIN 10392875 | Additional Director | 23 Dec 2023 | 2 yrs 10 mo | Decipay Services Private Limited |
Financials of Decipay
Figures of Decipay Services Private Limited, the primary company behind Decipay, for FY 2023. Revenue was ₹11.8 Lakh (+2506% year on year). Net loss was -₹4.4 Lakh (-37% margin). EBITDA was -₹3.7 Lakh (-32% margin).
- ₹11.8 LakhRevenue · FY 2023 · +2506% YoY
- -₹4.4 LakhNet loss · -37% margin
- -₹3.7 LakhEBITDA · -32% margin
- ₹7.8 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Decipay Services Private Limited are on its company page.
Detailed financial statements for Decipay
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Decipay
3 dated milestones of Decipay across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Decipay is founded.
- Funding First funding round of $33K.
- Funding Latest funding round, Seed, of $20K.
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Decipay (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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Frequently Asked Questions about Decipay
Decipay was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Decipay is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Decipay is a funded company, having raised a total of $53.08K across 2 funding rounds to date. The company's 1st funding round was a Seed of $33.18K, raised on Jul 2020.
The primary company behind Decipay, Decipay Services Private Limited, reported revenue of ₹11.8 Lakh for FY 2023, up 2506% year on year.
Decipay was founded in 2019 in Mumbai, India, as a fintech company focused on payment processing. UPI-based solutions are offered to merchants for accepting payments across multiple channels, including configured devices. Cross-border transactions are facilitated to streamline operations for merchants and consumers. The domain decipay.in supports these services in the financial technology sector.
Decipay has 5 investors. Key investors include BlocPal, Icebreaker Tech, Kamal Mehta, Sharad Joshi, and Atul Chandrashekhar Joshi.
The valuation of Decipay is $51.77K as of Jul 2021.
Decipay operates through Decipay Services Private Limited.
The legal entities of Decipay currently have 2 directors, including Javed Sayyed Gadkari, Smita Dhiraj Lokhande.