About Paymart
Paymart is a Financial Services company based in Chandigarh (India) founded in 2015 by Amit Narang. Payment solutions for merchants are provided via a digital gateway. Paymart has raised $421.61 thousand across 3 funding rounds from investors including India Accelerator, Chandigarh Angels Network and Big Bridge Group. The company has 25 employees. Paymart was last valued at $2.12 million in July 2019. Its chief executive, as recorded, is Amit Narang. Its Indian entity Paymart India Private Limited reported revenue of ₹54.3 Lakh. 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
Paymart was established in 2015 in Chandigarh, India, as a retail merchant aggregator in the fintech sector. A payment acceptance gateway is offered to merchants for over-the-counter transactions. Additional services include money changing and domestic as well as international money transfers, supporting operations primarily in the Indian market.
- Headquarters Chandigarh, India
- Employees 25
- Founders Amit Narang
- Stage Minicorn
- SectorsFinancial Services
- Website mypaymart.com
- Social LinkedIn
- Legal Name Paymart India Private Limited
- Date of Incorporation 14 Oct, 2015
- Jurisdiction Chandigarh, India
- Annual Revenue₹54.3 Lakh
FY 2025 · -15% YoY
- Net Loss-₹3.20 Cr
FY 2025 · -590% margin
- EBITDA-₹3.19 Cr
FY 2025 · -588% margin
- Total Equity Funding$421.61K (USD)
in 3 rounds
- InvestorsIndia Accelerator
& 21 more
- Employee Count25
Associated legal entities of Paymart
Paymart operates through Paymart India 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 |
|---|---|---|---|---|---|---|---|
| Paymart India Private Limited CIN U67190CH2015PTC035776 | Active | 14 Oct 2015 | Chandigarh, Chandigarh | ₹0.5 Cr | 25 | 3 | View details |
Funding Insights of Paymart
Paymart has successfully raised a total of $421.61K across 3 strategic funding rounds. 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 $421,609
- Total Rounds 3
- First Round $305,688
(Oct 2015)
- Investors Count 22
All 3 funding rounds of Paymart 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 |
|---|---|---|---|---|---|
| Jan 2020 | Seed | – | IIMA Ventures | ||
| Jul 2019 | $115,921 | Seed | $2.12M | Sanjeev Sharma | |
| Oct 2015 | $305,688 | Angel Round | – | Seema Shetty |
| Date | Valuation | Stage |
|---|---|---|
| Jul 2019 | $2.12M | •••••••• |
Last known valuation $2.12M (Jul 2019). 22 investors in total: 4 institutional and 18 angel.
Investors in Paymart
Paymart has secured backing from 22 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include India Accelerator, Chandigarh Angels Network and Big Bridge Group.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Angel investing and mentoring support for startups in India. | 2015 | chandigarhangelsnetwork.com | Chandigarh, India | |
Early-stage tech startups are supported via venture capital and acceleration. | iimaventures.com | Ahmedabad, India | ||
Startup acceleration, funding, and mentorship services are delivered by India Accelerator. | 2017 | indiaaccelerator.co | Gurugram, India | |
Operates a real estate fund with a focus on multiple investment strategies. | 2019 | bigbridgegroup.com | Noida, India | |
SS Sanjeev Sharma | unknown_a306ecaa627b424c9 | |||
BG Baldev Garg | unknown_b9eef1a415d443609 | |||
NM Nitin Monga | unknown_d6f4228a3c414272a | |||
VK Vineet Khurana | Angel investor and entrepreneur, focused on tech startups in India. | unknown_29158e1303c24e6ea | ||
RS Rohit Shankar | Angel investor and entrepreneur, focused on tech startups in India. | unknown_bad2a37886324ff5b | ||
VT Vandana Tripathi | unknown_1326d9bdf6b344a28 |
Investor details for Paymart
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Paymart India Private Limited (Paymart)
Paymart India Private Limited is the primary company behind Paymart. The board of Paymart India Private Limited currently have 3 directors; the longest-serving is Amit Narang, appointed in 2017. 6 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Amit Narang DIN 00454552 | Managing Director | 28 Jun 2017 | 9 yrs 4 mo | Paymart India Private Limited |
| Jyoti Narang DIN 06406669 | Director | 23 Nov 2017 | 8 yrs 11 mo | Paymart India Private Limited |
| Girish Chandra Pande DIN 01733544 | Director | 30 Nov 2022 | 3 yrs 10 mo | Paymart India Private Limited |
People of Paymart
1 people are tracked at Paymart (1 in leadership); the tracked headcount is 25.
| Name | Role | Group |
|---|---|---|
| Founder & CEO | Leadership |
Complete people profiles for Paymart
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Financials of Paymart
Figures of Paymart India Private Limited, the primary company behind Paymart, for FY 2025. Revenue was ₹54.3 Lakh (-15% year on year). Net loss was -₹3.20 Cr (-590% margin). EBITDA was -₹3.19 Cr (-588% margin). Revenue has grown at a compounded annual rate of +122% over three years and -9% over five years.
- ₹54.3 LakhRevenue · FY 2025 · -15% YoY
- -₹3.20 CrNet loss · -590% margin
- -₹3.19 CrEBITDA · -588% margin
- ₹4.21 CrPaid-up capital
- 25Employees (provident fund records)
- +122%Revenue CAGR, 3 years
- -9%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Paymart India Private Limited are on its company page.
Detailed financial statements for Paymart
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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- Downloads
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Timeline of Paymart
4 dated milestones of Paymart across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Paymart is founded.
- Funding First funding round of $306K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed,.
Competitors of Paymart
Paymart 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 Paymart
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Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Paymart (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 Paymart
Complete news archive for Paymart
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Frequently Asked Questions about Paymart
Paymart was founded in 2015.
Paymart is headquartered in Chandigarh, India.
Amit Narang is the CEO of Paymart, as recorded in our data. They have also founded this company.
Paymart is a funded company, having raised a total of $421.61K across 3 funding rounds to date. The company's 1st funding round was a Angel Round of $305.69K, raised on Oct 2015.
Paymart has 25 employees.
The primary company behind Paymart, Paymart India Private Limited, reported revenue of ₹54.3 Lakh for FY 2025, down 15% year on year.
Paymart was established in 2015 in Chandigarh, India, as a retail merchant aggregator in the fintech sector. A payment acceptance gateway is offered to merchants for over-the-counter transactions. Additional services include money changing and domestic as well as international money transfers, supporting operations primarily in the Indian market.
Paymart has 22 investors. Key investors include India Accelerator, Chandigarh Angels Network, Big Bridge Group, IIMA Ventures, and Sanjeev Sharma.
The valuation of Paymart is $2.12M as of Jul 2019.
Paymart operates through Paymart India Private Limited.
The legal entities of Paymart currently have 3 directors, including Amit Narang, Girish Chandra Pande, Jyoti Narang.