About PayNav
PayNav is a Technology company based in Bengaluru (India) founded in 2019 by Burada Vivek and Naveen Patnaik Joggimahanthy. Its chief executive, as recorded, is Naveen Patnaik Joggimahanthy. Its focus areas include FinTech, Investment Tech, Alternative Investment Platforms and Commodities Trading. Its legal entity in India is Hemantika Tech Solution Private Limited (U72200KA2019PTC129982). Its competitors include Jar, SafeGold and Augmont; 2 of its 3 listed competitors have raised funding.
Company details
Mobile application offering prepaid card and investment platform. It offers a prepaid card for shopping online and offline, with the option to redeem accumulated gold for physical coins or cash. It simplify personal finance management and provide users with a tangible reward for their daily expenses. The platform has a presence on multiple social media platforms and has attracted significant attention in the fintech space.
- Headquarters Bengaluru, India
- Founders Burada Vivek, Naveen Patnaik Joggimahanthy
- SectorsTechnology
- Email••••••••
- Website paynav.co
- Social LinkedIn X Facebook
- Legal Name Hemantika Tech Solution Private Limited
- Date of Incorporation 25 Nov, 2019
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹20,070
FY 2023 · +1769% YoY
- Net Loss-₹73,829
FY 2023 · -368% margin
- EBITDA-₹6,575
FY 2023 · -33% margin
- Investors
Associated legal entities of PayNav
PayNav operates through Hemantika Tech Solution Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Hemantika Tech Solution Private Limited CIN U72200KA2019PTC129982 | Active | 25 Nov 2019 | Bangalore, Karnataka | ₹0.0 Cr | 2 | View details |
Funding Insights of PayNav
- Total Rounds 1
- Investors Count 1
All 1 funding rounds of PayNav 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 |
|---|---|---|---|---|---|
| Jul 2021 | Seed | – | T-Hub | – |
1 investors in total: 1 institutional.
Investors in PayNav
PayNav has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include T-Hub.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Innovation hub connecting startups, corporates, and partners in technology and ecosystem development. | 2015 | t-hub.co | Hyderabad, India |
Investor details for PayNav
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Hemantika Tech Solution Private Limited (PayNav)
Hemantika Tech Solution Private Limited is the primary company behind PayNav. The board of Hemantika Tech Solution Private Limited currently have 2 directors; the longest-serving is Naveen Patnaik Joggimahanthy, appointed in 2019.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Naveen Patnaik Joggimahanthy DIN 08620917 | Director | 25 Nov 2019 | 6 yrs 11 mo | Hemantika Tech Solution Private Limited |
| Rahul Soma Sundar DIN 08620918 | Director | 25 Nov 2019 | 6 yrs 11 mo | Hemantika Tech Solution Private Limited |
People of PayNav
2 people are tracked at PayNav (2 in leadership).
| Name | Role | Group |
|---|---|---|
Burada Vivek | Co-Founder | Leadership |
| Co-Founder & CEO | Leadership |
Complete people profiles for PayNav
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of PayNav
Figures of Hemantika Tech Solution Private Limited, the primary company behind PayNav, for FY 2023. Revenue was ₹20,070 (+1769% year on year). Net loss was -₹73,829 (-368% margin). EBITDA was -₹6,575 (-33% margin).
- ₹20,070Revenue · FY 2023 · +1769% YoY
- -₹73,829Net loss · -368% margin
- -₹6,575EBITDA · -33% margin
- ₹10 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Hemantika Tech Solution Private Limited are on its company page.
Detailed financial statements for PayNav
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of PayNav
2 dated milestones of PayNav across 2 years, from founding to its latest funding, stage changes and deals.
- Founded PayNav is founded.
- Funding First funding round.
Competitors of PayNav
PayNav has 3 listed competitors in our database, 2 of them funded. They include Jar, SafeGold and Augmont.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| myjar.app | 2021 | Bengaluru, India | $63.3M | 251 | Jar is recognized as a leading digital gold savings app in India. | |
| safegold.com | 2017 | Mumbai, India | $2.38M | 61 | Provider of a digital platform for buying, selling, and storing 24K gold | |
| augmont.com | 1994 | Mumbai, India | 230 | Alternative investments in digital gold and silver are facilitated. |
Detailed competitors of PayNav
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Investment & Financial Technology
2 companies that operate in the same segment as PayNav (Investment & Financial Technology) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 549.14 M | 3,823 | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 |
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Frequently Asked Questions about PayNav
PayNav was founded in 2019 and raised its 1st funding round 2 years after it was founded.
PayNav is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Naveen Patnaik Joggimahanthy is the CEO of PayNav, as recorded in our data. They have also founded this company.
The primary company behind PayNav, Hemantika Tech Solution Private Limited, reported revenue of ₹20,070 for FY 2023, up 1769% year on year.
Mobile application offering prepaid card and investment platform. It offers a prepaid card for shopping online and offline, with the option to redeem accumulated gold for physical coins or cash. It simplify personal finance management and provide users with a tangible reward for their daily expenses. The platform has a presence on multiple social media platforms and has attracted significant attention in the fintech space.
PayNav has 1 investor. Key investors include T-Hub.
PayNav operates through Hemantika Tech Solution Private Limited.
The legal entities of PayNav currently have 2 directors, including Naveen Patnaik Joggimahanthy, Rahul Soma Sundar.