About Finmo
Finmo is a Financial Services company based in Delhi (India) founded in 2016, and was acquired by Benow in November 2017. UPI based mobile payments app. The company was acqui-hired. Its focus areas include FinTech, Payments, Consumer Payments and Wallets. Its legal entity in India is Evokio India Private Limited (U74900DL2016PTC291129). Its competitors include PhonePe, MobiKwik and Paytm; 3 of its 3 listed competitors have raised funding.
Company details
Finmo was founded in 2016 in Delhi, India, within the fintech sector. A UPI-enabled mobile banking application is operated, allowing instant money sending and requests through unique virtual payment addresses. Expense management and budgeting tools are provided, along with bill pooling and splitting functionalities, social feeds, and two-factor authentication for transactions. Operations focus on secure digital payments across India.
Associated legal entities of Finmo
Finmo operates through Evokio India Private Limited (strike off). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2017) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Evokio India Private Limited CIN U74900DL2016PTC291129 | Strike Off | 16 Feb 2016 | New Delhi, Delhi | 2 | View details |
Investors in Finmo
Finmo has secured backing from 1 investor. Prominent investors backing the company include Benow.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
UPI-enabled payments are provided for merchants and consumers by Benow. | 2016 | benow.in | Mumbai, India |
Investor details for Finmo
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Board of directors of Evokio India Private Limited (Finmo)
Evokio India Private Limited is the primary company behind Finmo. The board of Evokio India Private Limited currently have 2 directors; the longest-serving is Rishabh Jain, appointed in 2016.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Rishabh Jain DIN 07421722 | Director | 16 Feb 2016 | 10 yrs 8 mo | Evokio India Private Limited |
| Chirag Saini DIN 06810724 | Director | 16 Feb 2016 | 10 yrs 8 mo | Evokio India Private Limited |
Financials of Finmo
Figures of Evokio India Private Limited, the primary company behind Finmo, for FY 2017. Net loss was -₹14.4 Lakh (0% margin). EBITDA was -₹14 Lakh (0% margin).
- -₹14.4 LakhNet loss · 0% margin
- -₹14 LakhEBITDA · 0% margin
- ₹1 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Evokio India Private Limited are on its company page.
Detailed financial statements for Finmo
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Timeline of Finmo
2 dated milestones of Finmo across 1 years, from founding to its latest funding, stage changes and deals.
- Founded Finmo is founded.
- Exit Acquired by Benow.
Competitors of Finmo
Finmo 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 Finmo
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Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Finmo (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 Finmo
Complete news archive for Finmo
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Frequently Asked Questions about Finmo
Finmo was founded in 2016.
Finmo is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Finmo was founded in 2016 in Delhi, India, within the fintech sector. A UPI-enabled mobile banking application is operated, allowing instant money sending and requests through unique virtual payment addresses. Expense management and budgeting tools are provided, along with bill pooling and splitting functionalities, social feeds, and two-factor authentication for transactions. Operations focus on secure digital payments across India.
Finmo has 1 investor. Key investors include Benow.
Finmo operates through Evokio India Private Limited.
Yes. Finmo was acquired by Benow in November 2017.
The legal entities of Finmo currently have 2 directors, including Rishabh Jain, Chirag Saini.