About PayMate
PayMate is a company based in Mumbai (India) founded in 2006 by Ravi Vishvanathan, Vishvanathan Subramanian, Probir Roy, and Ajay Adiseshann.. PayMate has raised $58.7 million across 11 funding rounds from investors including Visa, Kleiner Perkins and IPO Wealth. The company has 88 employees as of March 29, 2024. PayMate has completed 1 acquisition, including Z2P. PayMate operates in a competitive market with competitors including Stripe, Razorpay, Flutterwave, Xendit and PayU, among others.
- Headquarter Mumbai, India
- Employees 88 as on 29 Mar, 2024
- Founders Ravi Vishvanathan, Vishvanathan Subramanian, Probir Roy, Ajay Adiseshann
- Stage Soonicorn
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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 Paymate India Limited
- Date of Incorporation 12 May, 2006
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$1.15 M (USD)-99.44as on Mar 31, 2015
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Net Profit
$-601.99 K (USD)92.85as on Mar 31, 2015
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EBITDA
$-578.38 K (USD)92.98as on Mar 31, 2015
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Total Equity Funding
$58.7 M (USD)
in 11 rounds
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Latest Funding Round
$2.02 M (USD), Series E
Jul 19, 2024
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Investors
Visa
& 23 more
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Employee Count
88
as on Mar 29, 2024
- Investments & Acquisitions
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Funding Insights of PayMate
PayMate has successfully raised a total of $58.7M across 11 strategic funding rounds. The most recent funding activity was a Series E round of $2.02 million completed in July 2024. 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 Total Funding
- Total Rounds 11
- Last Round Series E — $2.0M
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First Round
First Round
(07 Jul 2006)
- Investors Count 24
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Series E - PayMate | Valuation | Anil Chandirani | |
| May, 2024 | Amount | Angel Round - PayMate | Valuation |
investors |
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| Feb, 2023 | Amount | Series E - PayMate | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in PayMate
PayMate has secured backing from 24 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include Visa, Kleiner Perkins and IPO Wealth. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Diversified investments are managed across multiple sectors by the firm.
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Founded Year | Domain | Location | |
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Investments in early-stage startups are made by Brand Capital.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by PayMate
PayMate has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Z2P. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Microloans are facilitated via a P2P lending platform for consumers.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - PayMate
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Paymate Comparisons
Competitors of PayMate
PayMate 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 Stripe, Razorpay, Flutterwave, Xendit and PayU, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payment processing and card issuance solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Payment and business banking solutions are provided for enterprises.
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| domain | founded_year | HQ Location |
Provider of payment processing solutions for businesses
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| domain | founded_year | HQ Location |
Online payment and money transfer platform for businesses
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| domain | founded_year | HQ Location |
Online payment processing and credit solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Digital payments and engagement solutions are offered for MSMEs.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Paymate
Frequently Asked Questions about PayMate
When was PayMate founded?
PayMate was founded in 2006.
Where is PayMate located?
PayMate is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Who is the current CEO of PayMate?
Ajay Adiseshann is the current CEO of PayMate. They have also founded this company.
Is PayMate a funded company?
PayMate is a funded company, having raised a total of $58.7M across 11 funding rounds to date. The company's 1st funding round was a Series E of $2.78M, raised on Jul 07, 2006.
How many employees does PayMate have?
As of Mar 29, 2024, the latest employee count at PayMate is 88.
What is the annual revenue of PayMate?
Annual revenue of PayMate is $1.15M as on Mar 31, 2015.
What does PayMate do?
PayMate was founded in 2006 and is based in Mumbai, India, within the fintech sector focused on B2B payments. Automation tools for vendor payments and workflow configurations are offered by the company. Early payment programs, invoice discounting, and credit evaluation services are provided to support working capital and cash flow management. Operations include procure-to-pay processes and a credit engine, serving supply chain finance needs across businesses.
Who are the top competitors of PayMate?
How many acquisitions has PayMate made?
PayMate has made 1 acquisition, including Z2P.
Who are PayMate's investors?
PayMate has 24 investors. Key investors include Visa, Kleiner Perkins, IPO Wealth, Anil Chandirani, and Manah Family Corpus.
What is PayMate's valuation?
The valuation of PayMate is $953.96M as of Jul 2024.
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