About Paycraft
Paycraft is a Financial Services company based in Mumbai (India) founded in 2013 by Palakunnath Thekkadancheri Suresh and Ravi Vinod Jain. Payment platforms and card solutions are provided for diverse applications. It operates on a SaaS (Software-as-a-Service) and Mobility-as-a-Service model. Paycraft has raised $1.47 million across 1 funding round from investors including Mastercard and Mastercard. The company has 183 employees. Paycraft was last valued at $36.27 million in February 2020. Its chief executive, as recorded, is Ambarish Parekh. Its Indian entity Paycraft Solutions Private Limited reported revenue of ₹92.36 Cr. Paycraft offers products and services including myFinity Payment, Fare Collection System, Open Canvas, Card Management Solutions, and NFC Payments. Its focus areas include Payment Processing, Digital Payments, Transportation and Urban Mobility. Its competitors include DigiCards and Analytiqbv.
Company details
Paycraft is established as a payments company specializing in contactless open loop products with capabilities for processing both online and offline transactions. Solutions are provided for urban mobility, covering ticketing, validation, and management for program operators across various transportation modes. Platforms like myFinity Payment and Open Canvas are developed to facilitate seamless payment systems and digital acquisition for merchants and customers. Additionally, automated fare collection systems and card management solutions are offered to support diverse use cases in transit, toll, parking, and corporate expense management. Operations are extended to multiple cities in India, with projects implemented for bus rapid transport, metro systems, and smart city initiatives.
- Headquarters Mumbai, India
- Employees 183
- Founders Palakunnath Thekkadancheri Suresh, Ravi Vinod Jain
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website paycraftsol.com
- Social LinkedIn X Facebook
- Legal Name Paycraft Solutions Private Limited
- Date of Incorporation 12 Sep, 2013
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹92.36 Cr
FY 2025 · +55% YoY
- Net Profit₹7.95 Cr
FY 2025 · 9% margin
- EBITDA₹20.11 Cr
FY 2025 · 22% margin
- Total Equity Funding$1.47M (USD)
in 1 rounds
- Latest Funding Round$1.47M (USD), Series A
Feb 2020
- InvestorsMastercard
& 1 more
- Employee Count183
Associated legal entities of Paycraft
Paycraft is associated with 2 registered companies on The Company Check; the primary company is Paycraft Solutions Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Paycraft Solutions Private Limited CIN U72200MH2013PTC283149 | Active | 12 Sep 2013 | Mumbai, Maharashtra | ₹92.4 Cr | 183 | 5 | View details |
| Paycraft Urban Solutions Private Limited CIN U74900MH2014PTC255118 | Active | 28 Mar 2014 | Mumbai, Maharashtra | ₹9.3 Cr | 46 | 3 | View details |
Products & Services of Paycraft
Paycraft offers a comprehensive portfolio of products and services, including myFinity Payment, Fare Collection System, Open Canvas, Card Management Solutions, and NFC Payments.
A cloud-hosted platform for online/offline payment processing.
Automated ticketing system for multiple transportation modes.
Connects merchants and customers for contactless payments.
SaaS-based solution for issuing various card types.
Enables smartphones as payment instruments via HCE.
Funding Insights of Paycraft
Paycraft has successfully raised a total of $1.47M through 1 strategic funding round. The most recent funding activity was a Series A round of $1.47 million completed in February 2020. 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 $1.47M
- Total Rounds 1
- Last Round Series A — $1.47M
- First Round $1.47M
(Feb 2020)
- Investors Count 2
All 1 funding rounds of Paycraft 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 2020 | $1.47M | Series A | $36.27M | Mastercard, Mastercard | – |
| Date | Valuation | Stage |
|---|---|---|
| Feb 2020 | $36.27M | •••••••• |
Last known valuation $36.27M (Feb 2020). 2 investors in total: 2 institutional.
Investors in Paycraft
Paycraft has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Mastercard and Mastercard.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Global payments are processed via card network connections. | 1966 | mastercard.com | Purchase, United States | |
Mastercard is recognized as a global technology company in payments. | mastercard.com.sg |
Investor details for Paycraft
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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- Round participation
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Verified entity values are shown only after access is granted.
Board of directors of Paycraft Solutions Private Limited (Paycraft)
Paycraft Solutions Private Limited is the primary company behind Paycraft. The boards of the 2 registered companies of Paycraft currently have 6 directors; the longest-serving is Palakunnath Thekkadancheri Suresh, appointed in 2014. 6 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Palakunnath Thekkadancheri Suresh DIN 02665200 | Director | 28 Mar 2014 | 12 yrs 7 mo | Paycraft Urban Solutions Private Limited, Paycraft Solutions Private Limited |
| Ravi Vinod Jain DIN 06674485 | Director | 28 Mar 2014 | 12 yrs 7 mo | Paycraft Urban Solutions Private Limited, Paycraft Solutions Private Limited |
| Sudhakaran Sukumaran DIN 07530244 | Director | 01 Nov 2017 | 9 yrs | Paycraft Urban Solutions Private Limited |
| Ambarish Parekh DIN 01316946 | Managing Director | 01 Jul 2022 | 4 yrs 4 mo | Paycraft Solutions Private Limited |
| Sunil Kaushal DIN 09705232 | Director | 01 Sep 2022 | 4 yrs 2 mo | Paycraft Solutions Private Limited |
| Pankaj Ganguly DIN 09714564 | Director | 01 Sep 2022 | 4 yrs 2 mo | Paycraft Solutions Private Limited |
People of Paycraft
12 people are tracked at Paycraft (7 in leadership, 5 in team); the tracked headcount is 183.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership | |
| CEO & MD | Leadership | |
Nilesh Salekar | General Manager IT Cloud Infosec | Leadership |
| Director Delivery & Operation | Leadership | |
Yogesh Shetye | President – Strategic Business | Leadership |
Amar Sawant | General Manager | Leadership |
Abhishek Bhattacharjee | Products Specialist | Team |
Sachin Garg | Leader – Transit Products | Team |
Deepak Sharma | Manager- Business Development And Strategic Alliance | Team |
Apeksha Kini | Procurement Manager | Team |
Neha Sadlapurkar | Business Analyst | Team |
Complete people profiles for Paycraft
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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- Team structure
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- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Paycraft
Figures of Paycraft Solutions Private Limited, the primary company behind Paycraft, for FY 2025. Revenue was ₹92.36 Cr (+55% year on year). Net profit was ₹7.95 Cr (9% margin). EBITDA was ₹20.11 Cr (22% margin). Revenue has grown at a compounded annual rate of +24% over three years and +18% over five years.
- ₹92.36 CrRevenue · FY 2025 · +55% YoY
- ₹7.95 CrNet profit · 9% margin
- ₹20.11 CrEBITDA · 22% margin
- ₹1.03 CrPaid-up capital
- 183Employees (provident fund records)
- +24%Revenue CAGR, 3 years
- +18%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Paycraft Solutions Private Limited are on its company page.
Detailed financial statements for Paycraft
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 Paycraft
3 dated milestones of Paycraft across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Paycraft is founded.
- Funding First funding round of $1.5M.
- Milestone Reaches Minicorn status.
Competitors of Paycraft
Paycraft has 2 listed competitors in our database. They include DigiCards and Analytiqbv.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| digivcard.co | 2020 | Mumbai, India | Offers digital cards for easy sharing and updating of business contacts. | |||
| analytiqbv.com | 2019 | Mumbai, India | Offers co-branded prepaid and gift cards for various partners. |
Detailed competitors of Paycraft
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Paycraft
The website of Paycraft (paycraftsol.com) receives about 1.4K visits a month.
- Monthly visits1.4K
▲ 78.7% vs previous month
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Paycraft (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 Paycraft
Complete news archive for Paycraft
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Frequently Asked Questions about Paycraft
Paycraft was founded in 2013 and raised its 1st funding round 7 years after it was founded.
Paycraft is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Ambarish Parekh is the CEO of Paycraft, as recorded in our data.
Paycraft is a funded company, having raised a total of $1.47M across 1 funding round to date. The company's 1st funding round was a Series A of $1.47M, raised on Feb 2020.
Paycraft has 183 employees.
The primary company behind Paycraft, Paycraft Solutions Private Limited, reported revenue of ₹92.36 Cr for FY 2025, up 55% year on year.
Paycraft is established as a payments company specializing in contactless open loop products with capabilities for processing both online and offline transactions. Solutions are provided for urban mobility, covering ticketing, validation, and management for program operators across various transportation modes. Platforms like myFinity Payment and Open Canvas are developed to facilitate seamless payment systems and digital acquisition for merchants and customers. Additionally, automated fare collection systems and card management solutions are offered to support diverse use cases in transit, toll, parking, and corporate expense management. Operations are extended to multiple cities in India, with projects implemented for bus rapid transport, metro systems, and smart city initiatives.
Paycraft's top competitors include DigiCards and Analytiqbv.
Paycraft offers myFinity Payment, Fare Collection System, Open Canvas, Card Management Solutions, and NFC Payments.
Paycraft has 2 investors. Key investors include Mastercard, and Mastercard.
The valuation of Paycraft is $36.27M as of Feb 2020.
Paycraft is associated with 2 legal entities: Paycraft Solutions Private Limited, Paycraft Urban Solutions Private Limited.