About SOCASH
SOCASH is a company based in Singapore (Singapore) founded in 2016 by Kottopadath Payyakal Rekha and Salil Sankaran was acquired by NIUM in April 2022.. SOCASH has raised $12.4 million across 6 funding rounds from investors including Grab, NIUM and T-Hub. The company has 6 employees as of April 07, 2024. SOCASH operates in a competitive market with competitors including Electronic Payment and Services, Sonect, Clip Money, NCR Atleos and SPARE, among others.
- Headquarter Singapore, Singapore
- Employees 6 as on 07 Apr, 2024
- Founders Kottopadath Payyakal Rekha, Salil Sankaran
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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 Socash India Private Limited
- Date of Incorporation 06 Apr, 2017
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$509.76 K (USD)-43.12as on Mar 31, 2023
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Net Profit
$52.98 K (USD)-40.74as on Mar 31, 2023
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EBITDA
$31.23 K (USD)-84.22as on Mar 31, 2023
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Total Equity Funding
$12.4 M (USD)
in 6 rounds
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Latest Funding Round
$6 M (USD), Series B
Jul 22, 2019
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Investors
Grab
& 5 more
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Employee Count
6
as on Apr 07, 2024
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Acquired by
NIUM
(Apr 27, 2022)
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Funding Insights of SOCASH
SOCASH has successfully raised a total of $12.4M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $6 million completed in July 2019. 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 6
- Last Round Series B — $6.0M
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First Round
First Round
(11 Jul 2016)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2019 | Amount | Series B - SOCASH | Valuation | Glory Global Solutions | |
| Aug, 2018 | Amount | Series A - SOCASH | Valuation | Vertex Ventures |
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| Oct, 2017 | Amount | Series A - SOCASH | Valuation | Grab , Vertex Ventures |
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| 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 SOCASH
SOCASH has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include Grab, NIUM and T-Hub. 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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VC fund backed by Standard Chartered
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Founded Year | Domain | Location | |
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Venture capital fund focused on multiple sectors
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Founded Year | Domain | Location | |
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Innovation hub connecting startups, corporates, and partners in technology and ecosystem development.
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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 SOCASH
| 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 |
Financial Statements - SOCASH
| 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 |
Socash Comparisons
Competitors of SOCASH
SOCASH 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 Electronic Payment and Services, Sonect, Clip Money, NCR Atleos and SPARE, 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 |
Provider of ATM outsourcing, digital payment, and platform solutions to banks
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| domain | founded_year | HQ Location |
Cash withdrawals are enabled at kiosks and shops via smartphones.
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| domain | founded_year | HQ Location |
Provider of alternative cash deposit solutions
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| domain | founded_year | HQ Location |
ATM management solutions are offered to financial institutions.
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| domain | founded_year | HQ Location |
Cash withdrawal solutions are enabled for consumers via virtual ATMs.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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 Socash
Frequently Asked Questions about SOCASH
When was SOCASH founded?
SOCASH was founded in 2016.
Where is SOCASH located?
SOCASH is headquartered in Singapore, Singapore.
Is SOCASH a funded company?
SOCASH is a funded company, having raised a total of $12.4M across 6 funding rounds to date.
How many employees does SOCASH have?
As of Apr 07, 2024, the latest employee count at SOCASH is 6.
What is the annual revenue of SOCASH?
Annual revenue of SOCASH is $509.76K as on Mar 31, 2023.
What does SOCASH do?
SOCASH was established in 2016 in Singapore as a fintech platform. Cash access is provided via a mobile app, allowing users to choose withdrawal amounts and identify nearby collection points. Funds are retrieved at designated locations, with bank integrations via APIs facilitating digital transactions. The service operates on Android and iOS devices, targeting users in the region.
Who are the top competitors of SOCASH?
SOCASH's top competitors include Sonect, Electronic Payment and Services and NCR Atleos.
Who are SOCASH's investors?
SOCASH has 6 investors. Key investors include Grab, NIUM, T-Hub, Vertex Ventures SG, and GLORY.
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