About Paycraft
Paycraft is a company based in Mumbai (India) founded in 2013 by Palakunnath Thekkadancheri Suresh and Ravi Vinod Jain. It operates as a SaaS (Software-as-a-Service) and Mobility-as-a-Service. Paycraft has raised $1.47 million across 1 funding round from investors including Mastercard and Mastercard. The company has 183 employees as of April 03, 2024. Paycraft offers products and services including myFinity Payment, Fare Collection System, Open Canvas, Card Management Solutions, and NFC Payments. Paycraft operates in a competitive market with competitors including PearlPay, DigiCards and Analytiqbv, among others.
- Headquarter Mumbai, India
- Employees 183 as on 03 Apr, 2024
- Founders Palakunnath Thekkadancheri Suresh, Ravi Vinod Jain
- Stage Minicorn
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Paycraft Solutions Private Limited
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$4.47 M (USD)-22.6as on Mar 31, 2023
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Net Profit
$177.92 K (USD)-17.77as on Mar 31, 2023
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EBITDA
$620.83 K (USD)6686.93as on Mar 31, 2023
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Total Equity Funding
$1.47 M (USD)
in 1 rounds
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Latest Funding Round
$1.47 M (USD), Series A
Feb 11, 2020
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Investors
Mastercard
& 1 more
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Employee Count
183
as on Apr 03, 2024
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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.
People of Paycraft
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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.
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 |
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Global payments are processed via card network connections.
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Mastercard is recognized as a global technology company in payments.
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Investor details for Paycraft
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Investments & Acquisitions by Paycraft
Investment portfolio details for Paycraft
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Financial Statements - Paycraft
Detailed financials for Paycraft
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Paycraft Comparisons
Peer comparison for Paycraft
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Competitors of Paycraft
Paycraft operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as PearlPay, DigiCards and Analytiqbv, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Software solutions for the banking industry
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Offers digital cards for easy sharing and updating of business contacts.
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Offers co-branded prepaid and gift cards for various partners.
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Detailed competitors of Paycraft
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Latest news on 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 current CEO of Paycraft.
Paycraft is a funded company, having raised a total of $1.47M across 1 funding round to date.
As of Apr 03, 2024, the latest employee count at Paycraft is 183.
Annual revenue of Paycraft is $4.47M as on Mar 31, 2023.
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 PearlPay, 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.