About IppoPay
IppoPay is a Financial Services company based in Chennai (India) founded in 2020 by Mohan Karuppaiah and Jai Kumar. QR codes and UPIs are used for business payment acceptance. IppoPay has raised $4.65 million across 3 funding rounds from investors including Coinbase, StartupTN and Mithun Sacheti. The company has 404 employees. IppoPay has completed 2 acquisitions, including Roamsoft Tech and Tutelar. IppoPay was last valued at $12.21 million in September 2021. Its chief executive, as recorded, is Mohan Karuppaiah. Its website ippopay.com draws about 13 thousand monthly visits. Its Indian entity Ippopay Technologies Private Limited reported revenue of ₹12.99 Cr. Its focus areas include FinTech, Payments, Business Payments and Online Payments. Its competitors include Razorpay, Mintoak and Pine Labs; 3 of its 3 listed competitors have raised funding.
Company details
IppoPay was established in 2020 in Chennai, India, within the fintech sector. Payment aggregation services are offered to businesses for collecting transactions from customers and vendors using QR codes, UPI, and POS systems. Financial operations are managed through integrations via SDKs, RESTful APIs, and plugins across multiple platforms and languages. Data analysis is enabled to support operational growth.
- Headquarters Chennai, India
- Employees 404
- Founders Mohan Karuppaiah, Jai Kumar
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website ippopay.com
- Social LinkedIn X Facebook
- Legal Name Ippopay Technologies Private Limited
- Date of Incorporation 11 Nov, 2020
- Jurisdiction Chennai, Tamil Nadu, India
- Annual Revenue₹12.99 Cr
FY 2025 · -28% YoY
- Net Loss-₹30.94 Cr
FY 2025 · -238% margin
- EBITDA-₹29.17 Cr
FY 2025 · -224% margin
- Total Equity Funding$4.65M (USD)
in 3 rounds
- Latest Funding Round$2.3M (USD), Angel Round
Aug 2024
- InvestorsCoinbase
& 13 more
- Employee Count404
- Investments & AcquisitionsRoamsoft Tech
& 1 more
Associated legal entities of IppoPay
IppoPay operates through Ippopay Technologies 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 |
|---|---|---|---|---|---|---|---|
| Ippopay Technologies Private Limited CIN U72900TN2020PTC139372 | Active | 11 Nov 2020 | Chennai, Tamil Nadu | ₹13.0 Cr | 404 | 3 | View details |
Funding Insights of IppoPay
IppoPay has successfully raised a total of $4.65M across 3 strategic funding rounds. The most recent funding activity was a Angel Round of $2.3 million completed in August 2024. 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 $4.65M
- Total Rounds 3
- Last Round Angel Round — $2.3M
- First Round $13,749
(Feb 2021)
- Investors Count 14
All 3 funding rounds of IppoPay 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 |
|---|---|---|---|---|---|
| Aug 2024 | $2.3M | Angel Round | – | Mithun Sacheti, Siddhartha Sacheti | – |
| Sep 2021 | $2.35M | Seed | $12.21M | Better Capital | |
| Feb 2021 | $13,749 | Grant | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Sep 2021 | $12.21M | •••••••• |
Last known valuation $12.21M (Sep 2021). 14 investors in total: 5 institutional and 9 angel.
Investors in IppoPay
IppoPay has secured backing from 14 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include Coinbase, StartupTN and Mithun Sacheti.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage companies are invested in by Better Capital. | bettercapital.vc | Santa Clara, United States | ||
Seed and early-stage investments are made across sectors in India. | blume.vc | Mumbai, India | ||
Potato farming, grain marketing, and equipment services in Maine. | 2021 | startuptn.in | Chennai, India | |
Cryptocurrency trading, storage, and exchange services are offered online. | 2012 | coinbase.com | San Francisco, United States | |
| 3fventuresmanagementconsultants.tcc.mode | ||||
MS Mithun Sacheti | Founder of CaratLane, prominent angel investor in Indian startups | unknown_abb568ae040645f0a | ||
SS Siddhartha Sacheti | Founder of CaratLane, prominent angel investor in Indian startups | unknown_c4b5de51a6d84310a | ||
PR Prabhu Rangarajan | Co-founder of M2P Fintech, active angel investor in Indian startups | unknown_ee3dd13301ec47ffb | ||
SR Sailesh Ramakrishnan | Angel investor, ex-Managing Director at Rocket Internet, focused on tech startups | unknown_d14914e931184373b | ||
MR Madhusudanan Rangarajan | Angel investor, ex-Google, focused on tech startups in India. | unknown_f290c58c4122487f9 |
Investor details for IppoPay
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Ippopay Technologies Private Limited (IppoPay)
Ippopay Technologies Private Limited is the primary company behind IppoPay. The board of Ippopay Technologies Private Limited currently have 2 directors; the longest-serving is Rajavelu Jaikumar, appointed in 2020.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Rajavelu Jaikumar DIN 08958381 | Director | 11 Nov 2020 | 5 yrs 11 mo | Ippopay Technologies Private Limited |
| Mohan Karuppaiah DIN 06461685 | CEO | 15 Jun 2022 | 4 yrs 4 mo | Ippopay Technologies Private Limited |
People of IppoPay
2 people are tracked at IppoPay (2 in leadership); the tracked headcount is 404.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
Jai Kumar | Co-Founder | Leadership |
Complete people profiles for IppoPay
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Verified entity values are shown only after access is granted.
Financials of IppoPay
Figures of Ippopay Technologies Private Limited, the primary company behind IppoPay, for FY 2025. Revenue was ₹12.99 Cr (-28% year on year). Net loss was -₹30.94 Cr (-238% margin). EBITDA was -₹29.17 Cr (-224% margin). Revenue has grown at a compounded annual rate of -35% over three years.
- ₹12.99 CrRevenue · FY 2025 · -28% YoY
- -₹30.94 CrNet loss · -238% margin
- -₹29.17 CrEBITDA · -224% margin
- ₹1.4 LakhPaid-up capital
- 404Employees (provident fund records)
- -35%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Ippopay Technologies Private Limited are on its company page.
Detailed financial statements for IppoPay
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Investments & Acquisitions by IppoPay
IppoPay has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Roamsoft Tech and Tutelar.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Application development services are provided by Roamsoft Tech in India. | roamsofttech.com | Chennai, India | 2007 | Dec 2022 | •••• | |
Physical security services are provided to safeguard assets and facilities. | tutelar.tcc.mode | 2022 | Sep 2022 | •••• |
Complete acquisition details for IppoPay
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
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- Exports
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Timeline of IppoPay
7 dated milestones of IppoPay across 4 years, from founding to its latest funding, stage changes and deals.
- Founded IppoPay is founded.
- Funding First funding round of $14K.
- Milestone Reaches Minicorn status.
- Acquisition Acquires Tutelar.
- Acquisition Acquires Tutelar.
- Acquisition Acquires Roamsoft Tech.
- Funding Latest funding round, Angel Round, of $2.3M.
Competitors of IppoPay
IppoPay has 3 listed competitors in our database, 3 of them funded. They include Razorpay, Mintoak and Pine Labs.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| razorpay.com | 2014 | Bengaluru, India | $741.62M | 2,641 | Payment and business banking solutions are provided for enterprises. | |
| mintoak.com | 2017 | Mumbai, India | $24.71M | 140 | Digital payments and engagement solutions are offered for MSMEs. | |
| pinelabs.com | 1998 | Noida, India | $1.23B | 3,780 | Omnichannel payment solutions, loyalty programs, and business tools are provided. |
Detailed competitors of IppoPay
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Web traffic of IppoPay
The website of IppoPay (ippopay.com) receives about 12.9K visits a month.
- Monthly visits12.9K
▲ 12.3% vs previous month
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as IppoPay (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 Ippopay
Complete news archive for IppoPay
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Frequently Asked Questions about IppoPay
IppoPay was founded in 2020 and raised its 1st funding round 1 year after it was founded.
IppoPay is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
Mohan Karuppaiah is the CEO of IppoPay, as recorded in our data. They have also founded this company.
IppoPay is a funded company, having raised a total of $4.65M across 3 funding rounds to date. The company's 1st funding round was a Grant of $13.75K, raised on Feb 2021.
IppoPay has 404 employees.
The primary company behind IppoPay, Ippopay Technologies Private Limited, reported revenue of ₹12.99 Cr for FY 2025, down 28% year on year.
IppoPay was established in 2020 in Chennai, India, within the fintech sector. Payment aggregation services are offered to businesses for collecting transactions from customers and vendors using QR codes, UPI, and POS systems. Financial operations are managed through integrations via SDKs, RESTful APIs, and plugins across multiple platforms and languages. Data analysis is enabled to support operational growth.
IppoPay has made 2 acquisitions, including Roamsoft Tech, and Tutelar.
IppoPay has 14 investors. Key investors include Coinbase, StartupTN, Mithun Sacheti, Siddhartha Sacheti, and Better Capital.
The valuation of IppoPay is $12.21M as of Sep 2021.
IppoPay operates through Ippopay Technologies Private Limited.