About OpenQ
OpenQ is a Technology company based in Mumbai (India) founded in 2018, and was acquired by PhonePe in May 2022. It operates as an an expense management platform is provided by OpenQ for businesses. Its Indian entity Quantech Capital Investment Advisors Private Limited reported revenue of ₹1.89 Cr. Its focus areas include FinTech, Investment Tech, Wealth Management Platforms and Expense Management. Its competitors include axio, EasyPlan, MoneyPlanned, SaveSage and Index and 2 more; 5 of its 7 listed competitors have raised funding.
Company details
OpenQ is associated with Quantech Capital. Specific details about activities, sectors, or solutions offered by the company are not provided on the website. Further information regarding their operations or focus areas remains unavailable based on the current content.
- Headquarters Mumbai, India
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Phone•••• ••••
- Website openq.in
- Social LinkedIn
- Acquired by PhonePe (May 2022)
- Legal Name Quantech Capital
- Date of Incorporation 13 Aug, 2018
- Jurisdiction Bangalore, Karnataka, India
Associated legal entities of OpenQ
OpenQ operates through Quantech Capital Investment Advisors Private Limited (amalgamated). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Quantech Capital Investment Advisors Private Limited CIN U67190KA2018PTC175882 | Amalgamated | 13 Aug 2018 | Bangalore, Karnataka | ₹1.9 Cr | 3 | 4 | View details |
Investors in OpenQ
OpenQ has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include PhonePe.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Payment, financial, investment, and lending services are provided digitally. | 2012 | phonepe.com | Bengaluru, India |
Investor details for OpenQ
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- Round participation
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Verified entity values are shown only after access is granted.
Board of directors of Quantech Capital Investment Advisors Private Limited (OpenQ)
Quantech Capital Investment Advisors Private Limited is the primary company behind OpenQ. The board of Quantech Capital Investment Advisors Private Limited currently have 3 directors; the longest-serving is Sujit Modi, appointed in 2018. 4 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Sujit Modi DIN 03172024 | Whole-time director | 13 Aug 2018 | 8 yrs 2 mo | Quantech Capital Investment Advisors Private Limited |
| Aaishwarya Jogi DIN 11100475 | Company Secretary | 05 Jun 2023 | 3 yrs 4 mo | Quantech Capital Investment Advisors Private Limited |
| Sachin Saurabh DIN 10425456 | Director | 13 Dec 2023 | 2 yrs 10 mo | Quantech Capital Investment Advisors Private Limited |
Financials of OpenQ
Figures of Quantech Capital Investment Advisors Private Limited, the primary company behind OpenQ, for FY 2024. Revenue was ₹1.89 Cr (+59% year on year). Net loss was -₹14.89 Cr (-787% margin). EBITDA was -₹14.88 Cr (-787% margin). Revenue has grown at a compounded annual rate of +52% over three years and +67% over five years.
- ₹1.89 CrRevenue · FY 2024 · +59% YoY
- -₹14.89 CrNet loss · -787% margin
- -₹14.88 CrEBITDA · -787% margin
- ₹18.89 CrPaid-up capital
- 3Employees (provident fund records)
- +52%Revenue CAGR, 3 years
- +67%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Quantech Capital Investment Advisors Private Limited are on its company page.
Detailed financial statements for OpenQ
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
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Verified entity values are shown only after access is granted.
Timeline of OpenQ
2 dated milestones of OpenQ across 4 years, from founding to its latest funding, stage changes and deals.
- Founded OpenQ is founded.
- Exit Acquired by PhonePe.
Competitors of OpenQ
OpenQ has 7 listed competitors in our database, 5 of them funded. They include axio, EasyPlan, MoneyPlanned, SaveSage and Index, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| axio.co.in | 2013 | Bengaluru, India | $205.92M | 499 | An online lending platform for point-of-sale financing is provided. | |
| easyplan.in | 2017 | Mumbai, India | $225,410 | – | Expense tracking, savings and investment platform | |
| moneyplanned.com | 2017 | Bengaluru, India | $374,007 | – | AI-driven financial planning platform for individuals | |
| savesage.club | 2024 | Gurugram, India | $1.28M | – | Platform that offers strategies for saving money along with credit card rewards and loyalty programs | |
| getindex.co | 2020 | Bengaluru, India | – | – | Personal finances are managed via an app-based platform for individuals. | |
| expensetracker.online | 2023 | Kharagpur, India | – | – | Mobile app for tracking and managing user expenses on devices. | |
| superpay.money | 2017 | Mumbai, India | $59,800 | – | App-based payment platform for individuals |
Detailed competitors of OpenQ
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Top companies in Investment & Financial Technology
10 companies that operate in the same segment as OpenQ (Investment & Financial Technology), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Commission-free trading and investment services are provided by Robinhood. | 2013 | Menlo Park, California, United States | USD 5.58 B | USD 2.98 B | 4,841 | |
Online exchange platform for cryptocurrency | 2017 | Ta Xbiex, Malta | USD 2.02 B | – | 14,747 | |
Online social trading platform for cryptocurrency, stocks, ETFs, and CFDs | 2007 | Tel Aviv, Tel Aviv, Israel | USD 422.94 M | USD 925.73 M | 2,713 | |
Financial data and investment advisory tools are offered online. | 1984 | Chicago, Illinois, United States | USD 91 M | USD 351.25 K | 6 | |
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 548.9 M | 3,830 | |
App-based platform for spare change investment | 2012 | Irvine, California, United States | USD 587.84 M | – | 602 | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 | |
App-based automated investment and retirement planning platform | 2010 | New York, New York, United States | USD 335 M | – | 674 | |
Money Forward is engaged in providing financial technology solutions. | 2012 | Minato, Tokyo, Japan | USD 42.9 M | USD 322.51 M | 2,600 | |
Wealth management solutions are delivered for investment advisors. | 2009 | Mountain View, California, United States | USD 759.1 M | – | 1,524 |
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Frequently Asked Questions about OpenQ
OpenQ was founded in 2018.
OpenQ is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
The primary company behind OpenQ, Quantech Capital Investment Advisors Private Limited, reported revenue of ₹1.89 Cr for FY 2024, up 59% year on year.
OpenQ is associated with Quantech Capital. Specific details about activities, sectors, or solutions offered by the company are not provided on the website. Further information regarding their operations or focus areas remains unavailable based on the current content.
OpenQ's top competitors include axio, EasyPlan and MoneyPlanned.
OpenQ has 1 investor. Key investors include PhonePe.
OpenQ operates through Quantech Capital Investment Advisors Private Limited.
Yes. OpenQ was acquired by PhonePe in May 2022.
The legal entities of OpenQ currently have 3 directors, including Aaishwarya Jogi, Sujit Modi, Sachin Saurabh.