About HiWi
HiWi is a Financial Services company based in Mumbai (India) founded in 2022 by Dewang Neralla, Geeta Chauhan, and Ujwal Tamminedi. Provider of payment solutions for international students. It operates in the Financial Services and Education sectors. HiWi has raised $3.78 million across 3 funding rounds from investors including Unicorn India Ventures, Ritesh Malik and Mitesh Shah. The company has 1 employees. HiWi was last valued at $3.87 million in September 2022. Its chief executive, as recorded, is Dewang Neralla. Its website hiwipay.com draws about 18 thousand monthly visits. Its Indian entity Hiwi Forex Transaction Services Private Limited reported revenue of ₹28.8 Lakh. HiWi offers products and services including Money Transfer Service and Education Loan Service. Its focus areas include FinTech, Digital Remittance, Internet First Platforms and Diversified. Its competitors include Auxilo, Eduvanz and GyanDhan; 3 of its 3 listed competitors have raised funding.
Company details
HiWi was founded in 2022 in Mumbai, India, as a provider of fintech services targeted at international students. Operations focus on digital channels for debit card issuance, online payments and transactions, student loans, automated reconciliation, remittances, and transaction reporting. The platform facilitates secure financial management for users studying abroad.
- Headquarters Mumbai, India
- Employees 1
- Founders Dewang Neralla, Geeta Chauhan, Ujwal Tamminedi
- Stage Minicorn
- SectorsFinancial ServicesEducation
- Email••••••••
- Phone•••• ••••
- Website hiwipay.com
- Social LinkedIn Facebook Instagram
- Legal Name Hiwi Forex Transaction Services Private Limited
- Date of Incorporation 23 May, 2022
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹28.8 Lakh
FY 2025 · +13% YoY
- Net Loss-₹4.04 Cr
FY 2025 · -1401% margin
- EBITDA-₹3.99 Cr
FY 2025 · -1385% margin
- Total Equity Funding$3.78M (USD)
in 3 rounds
- Latest Funding Round$2M (USD), Seed
Feb 2025
- InvestorsUnicorn India Ventures
& 7 more
- Employee Count1
Associated legal entities of HiWi
HiWi operates through Hiwi Forex Transaction Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Hiwi Forex Transaction Services Private Limited CIN U67190MH2022PTC383136 | Active | 23 May 2022 | Mumbai, Maharashtra | ₹0.3 Cr | 20 | 4 | View details |
Products & Services of HiWi
HiWi offers a comprehensive portfolio of products and services, including Money Transfer Service and Education Loan Service.
Enables quick international money transfers with no fees.
Matches students with lenders for education loans up to INR 1 Crore.
Apps and channels of HiWi
HiWi publishes 2 mobile apps with over 1K+ downloads.
Funding Insights of HiWi
HiWi has successfully raised a total of $3.78M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $2 million completed in February 2025. 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 $3.78M
- Total Rounds 3
- Last Round Seed — $2M
- First Round $908,780
(Sep 2022)
- Investors Count 8
All 3 funding rounds of HiWi 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 |
|---|---|---|---|---|---|
| Feb 2025 | $2M | Seed | – | Unicorn India Ventures | |
| Oct 2023 | $870,682 | Seed | – | Unicorn India Ventures, Unmaj | – |
| Sep 2022 | $908,780 | Seed | $3.87M | Unicorn India Ventures |
| Date | Valuation | Stage |
|---|---|---|
| Sep 2022 | $3.87M | •••••••• |
Last known valuation $3.87M (Sep 2022). 8 investors in total: 4 institutional and 4 angel.
Investors in HiWi
HiWi has secured backing from 8 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Unicorn India Ventures, Ritesh Malik and Mitesh Shah.
| 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 | |
Family wealth and investments are managed by Unmaj in Ahmedabad. | Ahmedabad, India | |||
Packaging products for food and beverage industry are manufactured. | urmingroup.com | Ahmedabad, India | ||
RM Ritesh Malik | Founder of Innov8, active angel investor in Indian startups | unknown_fe2f263045ac4ab5a | ||
MS Mitesh Shah | Co-founder of Infibeam, active angel investor in Indian startups | unknown_312fc9c0b61d46adb | ||
ND Nilesh Doshi | unknown_cf57e5f8a4d442f0a | |||
DN Dewang Neralla | Co-founder of Atomberg Technologies, angel investor in Indian startups | unknown_2535cf02e7f24b98b |
Investor details for HiWi
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Board of directors of Hiwi Forex Transaction Services Private Limited (HiWi)
Hiwi Forex Transaction Services Private Limited is the primary company behind HiWi. The board of Hiwi Forex Transaction Services Private Limited currently have 4 directors; the longest-serving is Anil Rambilash Joshi, appointed in 2022. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Anil Rambilash Joshi DIN 01522133 | Director | 18 Nov 2022 | 3 yrs 11 mo | Hiwi Forex Transaction Services Private Limited |
| Amarendra Sahoo DIN 06741280 | Director | 18 Nov 2022 | 3 yrs 11 mo | Hiwi Forex Transaction Services Private Limited |
| Dewang Sunderraj Neralla DIN 00107134 | Director | 14 Dec 2023 | 2 yrs 10 mo | Hiwi Forex Transaction Services Private Limited |
| Geeta Sudama Chauhan DIN 08593828 | Director | 14 Dec 2023 | 2 yrs 10 mo | Hiwi Forex Transaction Services Private Limited |
People of HiWi
3 people are tracked at HiWi (3 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
| Co-Founder & CBO | Leadership | |
Ujwal Tamminedi | Co-Founder & CTO | Leadership |
Complete people profiles for HiWi
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of HiWi
Figures of Hiwi Forex Transaction Services Private Limited, the primary company behind HiWi, for FY 2025. Revenue was ₹28.8 Lakh (+13% year on year). Net loss was -₹4.04 Cr (-1401% margin). EBITDA was -₹3.99 Cr (-1385% margin).
- ₹28.8 LakhRevenue · FY 2025 · +13% YoY
- -₹4.04 CrNet loss · -1401% margin
- -₹3.99 CrEBITDA · -1385% margin
- ₹1.4 LakhPaid-up capital
- 20Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Hiwi Forex Transaction Services Private Limited are on its company page.
Detailed financial statements for HiWi
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 HiWi
4 dated milestones of HiWi across 3 years, from founding to its latest funding, stage changes and deals.
- Founded HiWi is founded.
- Funding First funding round of $909K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $2.0M.
Competitors of HiWi
HiWi has 3 listed competitors in our database, 3 of them funded. They include Auxilo, Eduvanz and GyanDhan.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| auxilo.com | 2017 | Mumbai, India | $127.05M | 459 | Financial products for education loans and services are provided. | |
| eduvanz.com | 2016 | Mumbai, India | $40.28M | 137 | Financial assistance is provided for education, career, and skills development. | |
| gyandhan.com | 2015 | Delhi, India | $7.78M | 267 | Education loan marketplace and study abroad support are provided. |
Detailed competitors of HiWi
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Verified entity values are shown only after access is granted.
Web traffic of HiWi
The website of HiWi (hiwipay.com) receives about 17.6K visits a month.
- Monthly visits17.6K
▲ 460.4% vs previous month
Websites whose visitors overlap most with HiWi. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| unimoni.in | 100% | 60.2K | #565,280 | View details | |
remitx.com | remitx.com | 68% | #1,559,005 | – | |
| edufund.in | 64% | 22.4K | #1,340,297 | View details | |
| incred.com | 60% | 444.9K | #89,222 | View details | |
| compareremit.com | 60% | #624,194 | View details | ||
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 10 similar websites and full traffic analytics for HiWi
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 10 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as HiWi (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 Hiwi
Complete news archive for HiWi
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Frequently Asked Questions about HiWi
HiWi was founded in 2022.
HiWi is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Dewang Neralla is the CEO of HiWi, as recorded in our data. They have also founded this company.
HiWi is a funded company, having raised a total of $3.78M across 3 funding rounds to date. The company's 1st funding round was a Seed of $908.78K, raised on Sep 2022.
HiWi has 1 employees.
The primary company behind HiWi, Hiwi Forex Transaction Services Private Limited, reported revenue of ₹28.8 Lakh for FY 2025, up 13% year on year.
HiWi was founded in 2022 in Mumbai, India, as a provider of fintech services targeted at international students. Operations focus on digital channels for debit card issuance, online payments and transactions, student loans, automated reconciliation, remittances, and transaction reporting. The platform facilitates secure financial management for users studying abroad.
HiWi offers Money Transfer Service and Education Loan Service.
HiWi has 8 investors. Key investors include Unicorn India Ventures, Ritesh Malik, Mitesh Shah, Nilesh Doshi, and Jupiter Metaverse.
The valuation of HiWi is $3.87M as of Sep 2022.
HiWi operates through Hiwi Forex Transaction Services Private Limited.