About Open Financial Technologies
Open Financial Technologies is a Technology company based in Hyderabad (India). GST return filing and reporting tool for tax professionals. Open Financial Technologies has raised $120.51 million across 7 funding rounds from investors including Google, Visa and Angel List. The company has 373 employees. Its Indian entity Open Financial Technologies Private Limited reported revenue of ₹58.14 Cr. Its focus areas include FinTech, Finance & Accounting Tech, Tools for Finance Professionals and Tax Professionals. Its competitors include Speqta GST, Optotax and MyGSTCafe.
Company details
Open Financial Technologies gst return filing and reporting tool for tax professionals, focusing on innovating financial technology, finance accounting tech, tools for finance professionals, and tax professionals. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets.
- Headquarters Hyderabad, India
- Employees 373
- SectorsTechnology
- Website open.accountant
- Social LinkedIn X Facebook Instagram
- Legal Name Open Financial Technologies Private Limited
- Date of Incorporation 19 May, 2017
- Jurisdiction Bengaluru, Karnataka, India
- Annual Revenue₹58.14 Cr
FY 2025 · +26% YoY
- Net Loss-₹109 Cr
FY 2025 · -187% margin
- EBITDA-₹96.31 Cr
FY 2025 · -166% margin
- Total Equity Funding$120.51M (USD)
in 7 rounds
- Latest Funding Round$12.64M (USD), Series C
May 2022
- InvestorsGoogle
& 20 more
- Employee Count373
Associated legal entities of Open Financial Technologies
Open Financial Technologies operates through Open Financial 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 |
|---|---|---|---|---|---|---|---|
| Open Financial Technologies Private Limited CIN U67200KA2017PTC166507 | Active | 19 May 2017 | Bengaluru, Karnataka | ₹58.1 Cr | 373 | 8 | View details |
Funding Insights of Open Financial Technologies
Open Financial Technologies has successfully raised a total of $120.51M across 7 strategic funding rounds. The most recent funding activity was a Series C round of $12.64 million completed in May 2022. 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 $120.51M
- Total Rounds 7
- Last Round Series C — $12.64M
- First Round $92,400
(Oct 2017)
- Investors Count 21
All 7 funding rounds of Open Financial Technologies 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 |
|---|---|---|---|---|---|
| May 2022 | $12.64M | Series C | – | 3one4 Capital, Arvon Investments | |
| Sep 2021 | $76.73M | Series C | – | Arvon Investments, SBI Investment | |
| May 2021 | $339,900 | Series B | – | Trifecta Capital | – |
| Jul 2019 | $25.07M | Series B | – | Tiger Global Management, 3one4 Capital | |
| Feb 2019 | $4.5M | Series A | – | Beenext | |
| Jan 2018 | $1.14M | Seed | – | Art Capital Advisory India, Aprameya Radhakrishna | |
| Oct 2017 | $92,400 | Angel Round | – | Swetha Rau, Jitendra Gupta | – |
21 investors in total: 15 institutional and 6 angel.
Investors in Open Financial Technologies
Open Financial Technologies has secured backing from 21 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Google, Visa and Angel List.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage venture capital fund | beenext.com | Singapore, Singapore | ||
Venture capital investments in technology sectors like SaaS and Fintech in India. | 2016 | 3one4capital.com | Bengaluru, India | |
Early-stage venture capital and startup acceleration are provided. | 2011 | speedinvest.com | Vienna, Austria | |
Venture capital firm offering seed funding and support to startups in technology and innovation sectors. | 2014 | unicornivc.com | Mumbai, India | |
Corporate advisory and venture capital firm focused on fintech and multiple sectors | artcapitaladvisoryindia.tcc.mode | |||
Corporate-backed venture capital firm focused on fintech, Edtech, and multiple sectors | recruitstrategicpartners.com | San Mateo, United States | ||
Venture capital firm focused on multiple sectors | arvoninvestment.tcc.mode | Singapore, Singapore | ||
Venture and private equity investments are managed with global diversification. | tigerglobal.com | New York, United States | ||
Venture capital funds are managed to support unlisted companies' growth. | sbinvestment.co.jp | Minato City, Japan | ||
Private debt and equity funds are managed for technology sectors. | trifectacapital.in | Gurugram, India |
Investor details for Open Financial Technologies
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 Open Financial Technologies Private Limited (Open Financial Technologies)
Open Financial Technologies Private Limited is the primary company behind Open Financial Technologies. The board of Open Financial Technologies Private Limited currently have 6 directors; the longest-serving is Ajeesh Achuthan, appointed in 2017. 5 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ajeesh Achuthan DIN 07948982 | Director | 17 Oct 2017 | 9 yrs | Open Financial Technologies Private Limited |
| Deena Jacob DIN 06552579 | CFO | 15 May 2018 | 8 yrs 5 mo | Open Financial Technologies Private Limited |
| Anish Achuthan DIN 02853403 | Director | 27 Aug 2018 | 8 yrs 1 mo | Open Financial Technologies Private Limited |
| Bhaskar Majumdar DIN 02131404 | Nominee Director | 20 Apr 2019 | 7 yrs 6 mo | Open Financial Technologies Private Limited |
| Mabel Annie Chacko DIN 02853367 | Director | 22 Sep 2021 | 5 yrs 1 mo | Open Financial Technologies Private Limited |
| Mohit Naresh Bhandari DIN 02528942 | Nominee Director | 04 Apr 2022 | 4 yrs 6 mo | Open Financial Technologies Private Limited |
Financials of Open Financial Technologies
Figures of Open Financial Technologies Private Limited, the primary company behind Open Financial Technologies, for FY 2025. Revenue was ₹58.14 Cr (+26% year on year). Net loss was -₹109 Cr (-187% margin). EBITDA was -₹96.31 Cr (-166% margin). Revenue has grown at a compounded annual rate of +13% over three years and +46% over five years.
- ₹58.14 CrRevenue · FY 2025 · +26% YoY
- -₹109 CrNet loss · -187% margin
- -₹96.31 CrEBITDA · -166% margin
- 373Employees (provident fund records)
- +13%Revenue CAGR, 3 years
- +46%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Open Financial Technologies Private Limited are on its company page.
Detailed financial statements for Open Financial Technologies
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 Open Financial Technologies
2 dated milestones of Open Financial Technologies across 5 years, from founding to its latest funding, stage changes and deals.
- Funding First funding round of $92K.
- Funding Latest funding round, Series C, of $12.6M.
Competitors of Open Financial Technologies
Open Financial Technologies has 3 listed competitors in our database. They include Speqta GST, Optotax and MyGSTCafe.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| speqtalive.com | 2019 | Kanpur, India | Provides GST compliance software for filing returns and tax reconciliation. | |||
| optotax.com | 2017 | Hyderabad, India | Platform for GST return filing and reporting for tax professionals. | |||
| mygstcafe.com | 2016 | Kanpur, India | Software for GST return filing, data upload, and automations for tax experts. |
Detailed competitors of Open Financial Technologies
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Related news about Open Financial Technologies
Complete news archive for Open Financial Technologies
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Open Financial Technologies
Open Financial Technologies is headquartered in Hyderabad, India. It is registered at Hyderabad, Telangana, India.
Open Financial Technologies is a funded company, having raised a total of $120.51M across 7 funding rounds to date. The company's 1st funding round was a Angel Round of $92.4K, raised on Oct 2017.
Open Financial Technologies has 373 employees.
The primary company behind Open Financial Technologies, Open Financial Technologies Private Limited, reported revenue of ₹58.14 Cr for FY 2025, up 26% year on year.
Open Financial Technologies gst return filing and reporting tool for tax professionals, focusing on innovating financial technology, finance accounting tech, tools for finance professionals, and tax professionals. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets.
Open Financial Technologies's top competitors include Optotax, Speqta GST and MyGSTCafe.
Open Financial Technologies has 21 investors. Key investors include Google, Visa, Angel List, IIFL Finance, and 3one4 Capital.
Open Financial Technologies operates through Open Financial Technologies Private Limited.
The legal entities of Open Financial Technologies currently have 6 directors, including Mabel Annie Chacko, Anish Achuthan, Ajeesh Achuthan and others.